Political issues impeding dam investment

The political reasons have deterred foreign investors from engaging, especially concerning the Diamer-Bhasha Dam project, the National Assembly's Standing Committee on Economic Affairs was told on Friday.

The committee was informed that foreign investors are reluctant to discuss the Diamer-Bhasha Dam due to political issues.

Secretary Economic Affairs Division briefed the committee that talks were held with representatives of Gulf Cooperation Council (GCC) countries during an Organisation of the Petroleum Exporting Countries (OPEC) meeting, but currently, funds for the Diamer-Bhasha Dam are only being utilised from development programs.

He stated that the government was also seeking regional funds under the World Bank's International Development Association (IDA) programme.

Commenting on the flood victims, he apprised the committee of the $10 billion pledged through the Geneva Conference for flood victims, $3 billion has been realised so far.

The committee later called for external aid for flood victims to be discussed in the next meeting.

During the session, a member of the committee, Javed Hanif, pointed out that many NGOs were receiving foreign funding, notably from Saudi Arabia and Iran.

He stated that bringing foreign funding for NGOs was previously challenging, but now an online facility has been created to ease the process. The government's goal is to ensure a steady influx of dollars into the country amid current economic conditions.

The secretary said that the government lacks sufficient resources to provide employment or improve financial conditions for the people.

Bilal Azhar Kayani, another committee member, raised concerns about the potential misuse of NGO funding for terrorist activities.

The secretary assured that thorough investigations are conducted on all NGOs, and those operating in Azad Kashmir require special permission.

He mentioned an incident involving an NGO with no identifiable office, which was scrutinised by the redressal committee.