As the government reassesses the construction cost of Diamer Bhasha dam at $14 billion, it has decided to seek $5 billion from international lenders for the construction of dam over a period of next eight years.
The contours of the possible financing plan of the project were discussed during a meeting held on Tuesday in the finance ministry.
Finance Ishaq Dar chaired the session on the proposed Diamer Bhasha hydropower project, which was also attended by Wapda Chairman Zafar Mehmood.
Mehmood said the Diamer-Bhasha dam will approximately cost $13.96 billion. The revised cost is $2 billion higher than the earlier estimates. The Wapda chairman said that according to the proposed plan, the government is to spend $2 billion on civil works and relocation of Karakoram Highway from its own resources.
Published in The Express Tribune, October 1st, 2014.
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The revised cost is $2 billion higher than the earlier estimates? Well, we know where the extra $2 billion going.