Senior chartered accountant says work is underway to attract foreign investment. DESIGN: MOHSIN ALAM
More than four reputable international groups have shown interest in investing a whopping $30 billion in the Khyber-Pakhtunkhwa (K-P) energy sector to help the province in ending its electricity crisis.
This was revealed by the head of the newly-formed K-P Investment Promotion Cell (IPC), Rafaqat Ullah Babar while talking to The Express Tribune on Wednesday.
Babar, one of the most senior Chartered Accountants in the province claimed the huge investment would help rid the province of its power crisis within the next three to four years. “We have started working on the challenge of attracting foreign investment and I am certain K-P will be free of load-shedding by 2017,” he said.
According to Babar, private investors from China, Australia and Hong Kong have shown willingness to invest in Daral Khwar (36 megawatts), Ranolia (17 MWs) & Matiltan (84 MWs) hydropower projects in Swat district, Sharmai (150 MWs) and Koto (131 MWs) projects in Dir district and Lawi (69 MWs), Shashgai (144 MWs) and Shogosin (132 MWs) hydropower projects in Chitral.
“This is the first injection of foreign investment in the power sector and is likely to generate an estimated 1,533 MWs of electricity during the next four years,” Babar informed.
In response to a question about the deteriorating law and order, Babar said businesses have never been the target of terrorists, “International investment does not mean foreigners would have to be present to work on the sites of the projects,” he said, adding the projects would create immense job opportunities for locals.
Babar also informed in order to put an end to expenses caused by streetlights, the Energy and Power Development Department with cooperation of Local Government department had prepared a comprehensive plan to convert streetlights on solar energy.
Published in The Express Tribune, August 8th, 2013.
COMMENTS (10)
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$30b for KP? Whom are these guys fooling? Whole of Pakistan does not have $30b foreign investment in 2012-13.
At least we should have the courage to give some credit to PTI, that their key officers are responding to public queries, this is a new phenomenon. Kudos @Rafaqat ullah babar for your replies. keep up the good work PTI.
Substance is definitely there. The Government has taken up fight against energy crises as its hardest agenda. CM is on hot line with investors and so all his team. We have determined to over come load shedding in 4-5 years completely, however by the end of 2016 people would see substantial reduction in load shedding in KPK. Any way we always welcome suggestions and advice of our well wishers
My short comments How much investment is required by Bhasha no body knows as yet, The feasibility is yet to be carried out. I doubt very much if the investment in Bhasha is less than $ 30 Billion. Even the companies talking to us have not done their complete home work as all planning is yet to be carried out. It is an estimated investment. Not by the government but by investors.
Something doesn't add up in this news. Is it to created a hype without any substance. 30 billion dollar could give you 12000 MW electricity.
Small Hydro Power projects need more resources, but price of electricity produced is cheaper than Oil and Gas Powered Plant. Big dams should be built but in our Pakistan that are always controversial. So instead of wasting time on thinking about big Dams and projects we should focus on small units. After all "قطرہ قطرہ مل کر دریا بنتا ہے"
@ Waseem Akhter: We need solutions to our problems, don't want to be confused in the number games, well done PTI, keep it up.
At least something for the poor citizens of KPK to celebrate for EID.
$30b for the capacity of MW 1,588 this is outrageously expensive and does not make any sense. to put in context Dianmir Bhasha dam has capacity of MW 4,500 with investment of $14b