Islamabad, March 28 (APP): The Executive Committee of National Economic Council (ECNEC) approved on Friday stage-I of Dasu Hydro Power Project at a cost of Rs 486 billion. The Committee which was held here with Federal Minister for Finance, Senator Mohammad Ishaq Dar in the chair, discussed and approved the summary of Ministry of Planning, Development and Reform for Dasu Hydro Power Project (Stage-I) at rationalized cost of Rs.486 billion with foreign exchange component (FEC) of Rs.218.547 billion to be located at District Upper Kohistan, Khyber Pukhtunkhwa. The Committee was informed that Dasu Hydro Power Project is designed for 4320 MW comprising of two stages (2160 MW each) on Indus River.
The Stage-I of the proposed project envisages the construction of 2160 MW Dasu Hydro Power project and acquisition of land including resettlement, construction of offices, colonies, project access roads and pre-construction activities.
The stage-I will be completed in a period of five years. Once complete, Dasu Power Project will generate electricity at a unit cost of Rs.2.14 per kwh.
The ECNEC also constituted a Committee comprising representatives from Ministries of Planning, Development & Reform, Water & Power, Finance, WAPDA and Government of Khyber Pakhtunkhwa to monitor the issues relating to land acquisition for ensuring propriety of the land cost.
It was further decided that the Ministry of Water and Power will confirm that No Objection Certificate from the concerned Environment Protection Agency (EPA) has been obtained.
The ECNEC also approved 34.5 MW Harpo Hydro Power Project at a modified cost of Rs.9.5 billion with FEC of Rs.6.1 billion.
The location of the project is at Harpo Lungma, District Skardu, Gilgit Baltistan and the executing agency will be Water and Power Development Authority.It will be completed in four years. The AFD (French Agency ofDevelopment) and Kfw (German development bank) will finance the project through a loan of 70 million Euros.
The additional cost will be met from WAPDA’s own resources. The project cost includes construction of 132KV double circuit transmission lines from project site to Skardu.
The Finance Minister, on the occasion, said that energy is an essential ingredients for socio-economic development and economic growth.
He said that hydro power is low cost, environment friendly source of electricity.
“The government, in line with the vision of PML-N leadership, will make use of the potential of the natural resources of the country for the benefit of the people”, Ishaq Dar added.
The meeting was attended by Khawaja Mohammad Asif, Minister for Water and Power, Pervaiz Rashid, Minister for Information, Broadcasting and National Heritage, Ahsan Iqbal, Minister for Planning and Development, Ghulam Murtaza Jatoi, Minister for Industries & Production, Anusha Rehman, Minister of State for Information Technology, Jam Kamal Khan, MOS Petroleum, Mohammad Zubair, Chairman Privatization Commission, Syed Murad Ali Shah, Advisor to Chief Minister Sindh on Finance, Federal Secretaries and senior officials of the federal and provincial governments.