Talking to a private news channel, he said that the project would bring prosperity in the country. “Pakistan has enough coal reserves that can provide electricity to the country for more than 500 years,” he said.
He said that development work was in progress and the first 50 megawatts (MW) gasified project had almost been completed.
He said that the project was to cost Rs8.898 billion with a foreign exchange component of Rs5.847 billion that was approved by the Executive Committee of the National Economic Council last year.
The finance minister has accepted the demand of Rs900 million for machinery and equipment, keeping in view the project’s importance and financial viability, he added.
Dr Mubarakmand said that the success of the Thar coal project would lead to investment from leading international companies. He said that several foreign companies wanted to participate in the project and had shown interest.
“These companies are just waiting for the results of the maiden 50MW pilot project,” he said, adding that if the pilot project was successful, a barrage of investment would automatically follow, he said.
Published in The Express Tribune, August 26th, 2011.
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