ISLAMABAD: The government is likely to seek much-needed foreign exchange worth over $46 billion for infrastructure related mega projects including Diamer Bash dam and others from Gulf States, sources told Daily Times here on Tuesday.
President Asif Ali Zardari and other economic mangers of the country expect to hold meeting in Dubai with leaders of Dubai, Sharjah and other gulf countries on November 17, sources said. Pakistan leader would inform leaders of the oil-rich gulf countries about financial crises of the country. Pakistani leaders would try to plea Pakistani case regarding much required foreign exchange reserves for meeting international obligations of the country.
At the same time, sources said that Pakistan team would seek financial assistance for 31 mega projects, mostly related to the development of infrastructure sector of the country. Total cost of these 31 projects is more than $46 billion. Majority of these projects are related to water, power and other sectors.
The government is particularly seeking financial assistance for the construction of Diamer Bash dam, which is approved by the ECNEC on November 11. The dam would be built on Indus River and after completion it would have an annual 6.4 million acres feet surface water storage capacity, which would supplement irrigation supplies during low flow periods.
The project will also harness renewable source of clean and cheap energy through installed capacity of 4500MW and reduce dependence on thermal power, hence, saving foreign exchange. The dam would pay back its cost in ten years, the sources added.
Apart from Diamer Bhasha Dam Project, the sources said Pakistani leaders would also discuss other national importance projects. Some of these are: New Khanki Barrage Construction Project worth Rs 20 billion, GEPCO, Gujranwala secondary transmission lines and grid station improving project worth Rs 5.173 billion, Rohri Hydro Power Project worth Rs 794.573 million, Kurram Tangi Dam WAPDA Mardan worth Rs 17.205 billion, Rehabilitation of Irrigation canals in Punjab Irrigation System worth Rs 6.260 billion, Rural road construction project Phase-II (JABIC) Rs 5.114 billion and several other important projects.
