Japan ready to provide $ 850mn loan for Lakhra Power Project: minister

[Edevelop]

TOKYO – Japan has expressed its readiness to provide Yen 100 billion (approximately $ 850 million) loan for Lakhra Power Project.


This was stated by Minoru Kiuchi, State Minister for Foreign Affairs, during meeting with Finance Minsiter Senator Ishaq Dar that Japan here on Friday. Rounding up his 3-day hectic visit to Japan, Finance Minister Ishaq Dar met with Yoichi Miyazawa, Minister for Economy, Trade and Investment. It was decided that the next Joint Business Dialogue, delayed for the last two years, will take place in Pakistan in May 2015.


Toyota Group during meeting with the finance minister said that it is considering further investments in Pakistan. In meeting with delegation of Yamaha, it was announced that the inauguration of Yamaha Motorcycle Plant in Pakistan will take place in April 2015. During meetings with the senior political leadership of Japan, it was confirmed that the Japanese prime minister would visit Pakistan at the earliest possible, mutually convenient time.

Japan ready to provide $ 850mn loan for Lakhra Power Project: minister

 

[ArsalanKhan21]

"Lakhra Power Project" !! Cant they give a decent name to the project ? What is Lakh ra ? Is that code for lakh rupees (100,000) given to each person as kickbacks ? Lakh is too low people want crore (1,000,000) these days ! What about calling it "Crorera Power Project" !

 

[Muhammad Omar]

"Lakhra Power Project" !! Cant they give a decent name to the project ? What is Lakh ra ? Is that code for lakh rupees (100,000) given to each person as kickbacks ? Lakh is too low people want crore (1,000,000) these days ! What about calling it "Crorera Power Project" !

Are you serious or just trolling looks like talking like kids... Lakhra is a town and union council of Uthal Tehsil in Balochistan province, Pakistan where this coal power plant will b build... just like Gaddani power is named after the name of the place gaddani

 

[waleed3601]

Good and all but when are all of these going to be completed???
The load shedding is getting worse day by day!
I don't care if the government adds even something small like 100 or 200 MW just add something already!

 

[Muhammad Omar]

Good and all but when are all of these going to be completed???
The load shedding is getting worse day by day!
I don't care if the government adds even something small like 100 or 200 MW just add something already!

Most of the Projects will complete in 2017 Insha Allah

 

[ArsalanKhan21]

Lakhra Power Plant: SC issues detailed verdict on Lakhra deal – The Express Tribune

Lakhra Power Plant: SC issues detailed verdict on Lakhra deal
By Our Correspondent
Published: October 11, 2013

Says Wapda gave AG unfair advantage in the transaction. PHOTO: FILE

ISLAMABAD:
The Supreme Court on Thursday issued its detailed judgment on cancelling a ‘farcical and mala fide’ deal between Wapda and Associated Group (AG) to run the Lakhra Power Plant.

Wapda had leased the power plant in 2006, during Musharraf era, for a period of 20 years in a manner that according to court appeared to be an attempt to paper over the illegalities.

In 2006 it was the only coal-based power plant in the country. It had capacity to generate 150 MW of electricity using coal extracted from the Lakhra area of Dadu, according to a government funded study of the same year which proposed another coal mining and thermal power project of higher capacity in the area.

However, the people at the helm of affairs bundled off the project in a transaction beset with irregularities.

“The admitted record reveals that AG was unilaterally given prior access to the Lakhra Power Plant evidencing the availability of an unfair advantage,” the judgment read.

AG had access to the decision making authorities at the highest level not only in Wapda but also in the Presidency, it further said.

A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Justice Jawwad S Khawaja and Justice Sh Azmat Saeed heard the case. The detailed judgment was authored by Justice Sh Azmat Saeed.

The short order announced on August 21, 2013 had nullified the AG-Wapda deal and directed the federal government to fix the civil and criminal liability.

The decision in principle to award the contract to AG was taken on March 22, 2006 at the highest level by the then president and prime minister and the chairman of Wapda. Thereafter, without issuing any advertisement, some firms were contacted in July to file bids.

“Such procedure was not only illegal but in fact a farcical and mala fide attempt to clothe the transaction with some semblance of legality,” reads the judgment. “The said process and the subsequent approval by the Board of Wapda to AG appear to be an infertile attempt to paper over the illegalities,” it added.

The judgment says the power plant is a public asset and those entrusted therewith were sadly found wanting. The transaction has not only been disowned by the federal government, but it has also taken the stand that the transaction was beset with irregularities with the sole purpose of benefiting AG.

It was also observed that the counsel appearing for AG found himself unable to defend the process culminating in the transaction in question, leaving Wapda floundering alone in the sea of its own irregularities and illegalities.

Published in The Express Tribune, October 11th, 2013.

 

[Armstrong]

@Nihonjin1051 !

Thank You !

 

[Aepsilons]

@Nihonjin1051 !

Thank You !

Good to see greater cooperation between Japanese Government and Pakistan !

Toyota Group during meeting with the finance minister said that it is considering further investments in Pakistan. In meeting with delegation of Yamaha, it was announced that the inauguration of Yamaha Motorcycle Plant in Pakistan will take place in April 2015.

Excellent news!!!

 

[Armstrong]

Good to see greater cooperation between Japanese Government and Pakistan !

On a side note; I think our Punjabi warrior - Maula Jatt would kick your Samurai's butt !

 

[Aepsilons]

On a side note; I think our Punjabi warrior - Maula Jatt would kick your Samurai's butt !

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TOKYO – Japan has expressed its readiness to provide Yen 100 billion (approximately $ 850 million) loan for Lakhra Power Project.


This was stated by Minoru Kiuchi, State Minister for Foreign Affairs, during meeting with Finance Minsiter Senator Ishaq Dar that Japan here on Friday. Rounding up his 3-day hectic visit to Japan, Finance Minister Ishaq Dar met with Yoichi Miyazawa, Minister for Economy, Trade and Investment. It was decided that the next Joint Business Dialogue, delayed for the last two years, will take place in Pakistan in May 2015.


Toyota Group during meeting with the finance minister said that it is considering further investments in Pakistan. In meeting with delegation of Yamaha, it was announced that the inauguration of Yamaha Motorcycle Plant in Pakistan will take place in April 2015. During meetings with the senior political leadership of Japan, it was confirmed that the Japanese prime minister would visit Pakistan at the earliest possible, mutually convenient time.

Japan ready to provide $ 850mn loan for Lakhra Power Project: minister

In my honest opinion , Pakistan should consider conducting another feasibility study of building another coal based plant in the Balochistan region and others in the Khyber to augment the power needs in these regions of the country.

Securing the energy apparatus will be a double blessing as it will not only encourage greater FDI and outsourcing into the nation; but will be a blessing for the people.