Federal Minister for Finance Ishaq Dar chairing a meeting to review the progress on K2 and K3 energy project on Wednesday. PHOTO: PID
Strategic Plans Division (SPD) Director General Lieutenant General Mazhar Jameel discussed important matters about the two projects with the minister and sought support for establishing a financing mechanism including the issuance of guarantees by the finance ministry.
The energy projects, with a cumulative capacity of over 2,000 megawatts, would be jointly financed by China (Exim Bank) and the government of Pakistan, a statement issued by the finance ministry said.
Dar directed the Economic Affairs Division to take up the matter with Exim Bank, in coordination with the SPD, and complete all formalities for acquiring the loan.
He said once the projects were completed, they would prove to be a very economical source of energy and help address energy shortages.
The minister emphasised the need of close coordination among all the relevant stakeholders. Finance Secretary Dr Waqar Masood, EAD Secretary Saleem Sethi, Finance Division Adviser Rana Assad Amin and Additional Secretary Tariq Mahmood Pasha attended the meeting.
Published in The Express Tribune, May 21st, 2015.
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