ICCI : ‘Incomplete energy projects hurt GDP’
The initial cost of the project was estimated at Rs84.55 billion which was now projected at Rs416 billion
ISLAMABAD:
The Islamabad Chamber of Commerce and Industry (ICCI) called upon the government to take all necessary measures to ensure timely completion of ongoing energy projects as any further delay would hamper all efforts aimed at economic revival of the country. ICCI President Muzzamil Hussain Sabri said that a major factor contributing to the widening energy demand and supply gap was the delay in the completion of energy projects. He said the cost of the 969MW Neelum-Jhelum hydropower project has reportedly increased by four times since 2001 due to long delay in its completion. The initial cost of the project was estimated at Rs84.55 billion which was now projected at Rs416 billion. He said that the persistent energy crisis in Pakistan has already inflicted 2% to 3% per annum damage to the country’s GDP and failure of the authorities would further expose the business and industry.
Published in The Express Tribune, March 25th, 2015.
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