ISLAMABAD: A meeting of the Executive Committee of National Economic Council (ECNEC) was held in Islamabad on Friday under the chairmanship of Finance Minister Ishaq Dar, during which it approved stage-I of Dasu Hydro Power Project to be completed in five years.
The project will cost Rs 486 billion and will produce 4320 MW of electricity.
The council also approved 34.5 MW Harpo Hydro Power Project at a modified cost of Rs 9.5 billion with FEC of Rs 6.1 billion. The location of the project is at Harpo Lungma, District Skardu, Gilgit Baltistan and the executing agency will be Water and Power Development Authority.
It will be completed in four years. The AFD (French Agency of Development) and Kfw (German development bank) will finance the project through a loan of 70 million Euros. The additional cost will be met from WAPDA’s own resources. The project cost includes construction of 132KV double circuit transmission lines from project site to Skardu.
On the occasion, the finance minister said that energy is an essential ingredients for socio-economic development and economic growth. He said that hydro power is low cost, environment friendly source of electricity.
The finance minister said that the federal government will make use of the potential of the natural resources of the country for the benefit of the people.
