ISLAMABAD: The government has decided to make Diamer-Bhasha Dam part of the China-Pak Economic Corridor (CPEC) project.
A Pakistani delegation will soon visit China to discuss the relevant matters, while both the countries will ink a treaty in this regard in the near future.
The government has reportedly set it eyes on Bhasha Dam, ignoring Dasu Dam wherefrom more than 3,300 megawatts of electricity can be generated.
Sources said that Diamer-Bhasha Dam would be part of the CPEC. Two years ago, the government had launched the Dasu Dam project, and the international monetary institutions had assured the government of funds for the purpose. However, this matter was shelved following opposition from the Indian lobby, after which the international monetary institutions refused to extend funds. On the other hand, China has shown its keenness in Bhasha Dam, and the Pakistani government ready to oblige its neighbouring friend.
Sources said that China, like Pakistan, wants to focus on clean energy following the conference on environmental changes.
China is already launching several energy projects under the CPEC, but several among them are mainly coal-powered. Now, it wants to focus on clean energy.
Certain foreign companies have expressed their reservations about coal-powered projects due to comparatively higher tariffs, so they have recommended cancelling their licences for all such power plants.
The Diamer-Bhasha Dam is a Rs 13 billion project. The government has procured the dam’s land for Rs 1 billion, while an amount of Rs 12 billion was required to complete the project.
“China has shown interest in building this dam, and a technical team will visit the site very soon,” the official added. He further said that Dasu Dam was in the preliminary stages, and would initially generate 2,160MW. He said that the dam would be completed with the collaboration of the World Bank.
The World Bank has given the money to purchase land for the dam, and the government has provided the funds to the local government. Dasu Dam will take five to six years to complete after acquiring the land, while the government will complete the land procurement process by next month. Dasu Dam is the only project being funded by the World Bank.