SOME significant developments have taken place vis-à-vis the construction of water reservoirs which indeed are very critical not only to produce cheap electricity but also address the issue of water shortages and uplift the agriculture sector.
The most important development is the provision of loan to the tune of $ 240 million by brotherly country of Saudi Arabia for the multipurpose Mohmand Dam. This indeed is yet another manifestation of the strong partnership and bonds that exist between Pakistan and the Kingdom. This financing will really help Pakistan fast track the implementation of this project which will contribute to our energy security, increase sustainable water supply for agriculture and human consumption and improve resilience to floods. Saudi Development Fund (SFD) has always made major contributions in the development sector of Pakistan and now the provision of loan for Mohmand Dam shows its long-term commitment. We really value and see this support on the part of SFD with great veneration and we are confident that this partnership will be further expanded and strengthened in diverse sectors of economy so that the bilateral relationship between the two countries could be taken to new heights.
Separately, the government the other day also approved the Diamer-Basha power generation project at a cost of over Rs 1.2 trillion, showing an increase of Rs 302 billion against the original price mainly due to rupee devaluation. It is unfortunate that due to years of mismanagement and delay, the completion cost of such strategic projects has escalated drastically – the cost of which is ultimately borne by the common man. Had the work on these water reservoirs been started when they were originally envisaged, not only their cost would have been far less but they would have positively contributed to the economy by now as these would have provided us cheap energy from indigenous resources and enhanced our agriculture production through the irrigation of large swathes of barren land. Anyway, there should not be any further delay in the completion of these mega projects and they must be completed on a priority basis. Similarly small and medium sized dams should also be constructed to ensure water security and save the country from the devastation of floods.
