PM postpones Dasu hydropower project inauguration

JIT asks SC to file reference against PM, sons in NAB |

ISLAMABAD – Prime Minister Nawaz Sharif has postponed the inauguration of Dasu hydropower plant due to inclement weather of Dasu town, Kohistan’s area of Khyber Pakhtunkhwa.

A revised date for the visit will be announced later subject to weather condition, PM Office media wing said in a press release on Sunday.

The prime minister has to inaugurate commencement of the construction work on the Dasu hydropower project.

The government had announced earlier on Friday that he will lay the foundation stone of 4,500MW Dasu power plant, saying it would happen the same day the JIT was due to submit its final report to the Supreme Court.

The government has already arranged local financing for the project worth Rs144 billion from a consortium of local banks in March this year.

It has also secured $350 million last week from the international financial market at a very competitive rate and a staggered draw down to suit the project’s financing requirements.

Agreement with local commercial banks for financing up to Rs144 billion was signed on March 29 out of which the first tranche of Rs25 billion has been received in May 2017.

A total land of 9,917 acres is required for the project while most of the land for preparatory and main works have been acquired. Process for acquiring remaining land for the power project is in progress. APP

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