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Thread: US pledges support for Diamer Basha Dam

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    Senior Member Neo's Avatar
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    US pledges support for Diamer Basha Dam

    US pledges support for Diamer Basha Dam

    Officials highlight opportunities for investors in transformational power generation, water storage project *Pakistan needs 10 thousand megawatts power
    APP
    October 08, 2014

    WASHINGTON – The United States on Wednesday pledged support for Pakistan's massive $14 billion 4500mw Diamer Basha Dam project, as top officials and private business leaders explored investment prospects, amid exponential energy needs of the critical partner nation.

    Both the US officials including USAID Administrator Dr Rajiv Shah and US Special Representative Dan Feldman and Finance Minister Senator Ishaq Dar and Minister for Water, Power and Defence Khawaja Muhammad Asif highlighted tremendous opportunities for investors in the transformational power generation and water storage project.

    The officials spoke at a joint platform that brought together senior leaders and experts and business leaders at the US Chamber of Commerce at a meeting, co-hosted by the US Agency for International Development and the US-Pakistan Business Council. Ambassador to US Jalil Abbas Jilani and US Ambassador in Islamabad Richard Olson participated in the day-long conference, spread over several sessions.

    Pakistan needs 10 thousand megawatts of power to meet its rapidly growing domestic, industrial and agrarian requirements. The materialization of the Diamer Basha Dam will be a giant step in that quest. Besides producing 4500mw of power, the dam will help with four million acre of water for irrigation, save millions from flash flooding, boost other hydro projects and contribute vitally to extending life of the Tarbela Dam by 30 years.

    The Obama administration officials assured the investors of effective results, citing results from US-financed energy up-gradation projects in Pakistan. "We know that success can take hold," Dr Shah said in reference to completion of small projects and addition to power generation capacity of large dams.

    Daniel Feldman said the US and Pakistan have a wide-ranging strategic partnership and that Washington is in for a long-term economic and investment relationship with Pakistan, particularly in the energy field.

    "Investment in the Diamer Basha Dam is the smartest choice for Pakistan," Feldman remarked, reiterating the White House and Secretary John Kerry's commitment to back economic and energy security of Pakistan. Senator Ishaq Dar said that Prime Minister Nawaz Sharif's government is committed to encouraging foreign investment in various sectors of the economy and is crystal clear that the country needs both the Dasu and Basha dams.

    He said the government's resolve to bolster the national economy was evident from a series of macro-economic positive indicators that Islamabad has achieved in a short period of time and that building the Diamer Basha Dam is one of the top national priorities. He apprised the meeting of government's robust economic agenda, saying Islamabad has stemmed the economic downslide it inherited and now exports, GDP rate, remittances, revenue collection and industrial growth, have all registered marked growth.

    Despite demonstrations in Islamabad, the rupee has been fairly staying at stable exchange rate, while inflation has also been checked, he added. Senator Dar said the government has paid off circular debt it had inherited from the previous administration and also expanded development spending to Rs 525 billion.

    Khawaja Asif said Washington's support for the vital Diamer Basha Dam will cement the relationship between the two countries. Pakistan believes it can best cope with energy shortages through hydro power projects, he said, adding it provides inexpensive power to users. He drew attention to the lucrative and enormous investment opportunities that Pakistan's energy sector offers with the promise of healthy returns.

    http://www.dailytimes.com.pk/nationa...amer-basha-dam
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

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    Think Tank Muse's Avatar
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    Re: US pledges support for Diamer Basha Dam

    As I read the piece, no where did I come across a figure that may be construed as support -- BTW, I too, in the spirit of the piece above, wish to pledge my support to the project, the check is in the mail.
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    Senior Member Neo's Avatar
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    Re: US pledges support for Diamer Basha Dam

    Quote Originally Posted by Muse View Post
    As I read the piece, no where did I come across a figure that may be construed as support -- BTW, I too, in the spirit of the piece above, wish to pledge my support to the project, the check is in the mail.
    I have never been a fan of our improfessional media. I think my 13 year old nephew writes better than most of our sicalled journos.
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

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