Another offer to China to invest in Diamarbhasha Dam

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Another offer to China to invest in Diamarbhasha Dam
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Another offer to China to invest in Diamarbhasha Dam

Another 3.5 billion dollars are required for the project, Saudi Arabia did not show interest (Photo: File)

Islamabad: Pakistan has decided to attract China to invest in Diamarbhasha Dam.

It has decided to woo China for the Diamarbhasha Dam, an under-completed project that requires an additional investment of $3.5 billion, as Saudi Arabia has so far shown no interest in the project.

Government sources told Express that Prime Minister Shahbaz Sharif has issued instructions to the Ministry of Planning to include Diamarbhasha Dam in the Pakistan China Economic Corridor project. These instructions have been issued ahead of the meeting of the Joint Cooperation Committee on CPEC today (Friday). This meeting will be held through video link in which the overall progress of CPEC will be reviewed.

Planning Minister Ahsan Iqbal will represent Pakistan, while China will be represented by the Vice Chairman of the National Development and Reforms Commission.

According to sources, these instructions have been issued by Prime Minister Shehbaz Sharif before his upcoming visit to China, where he will also discuss the problems faced by Chinese companies operating in Pakistan. This is the second time in the last seven years that Pakistan has decided to include Diamarbhasha Dam in CPEC.

Earlier in November 2017, Pakistan had withdrawn its request to include Diamarbhasha Dam in CPEC and according to the then WAPDA Chairman Muzamil Hussain, China had imposed strict conditions regarding ownership of the project. After which Pakistan withdrew its request to include it in CPEC.

Last month, Pakistan also offered Saudi Arabia to invest in the Diamarbhasha Dam, for which Saudi Arabia had to invest 1.2 billion dollars in the project, while making arrangements to provide another 2.3 billion dollars on a ten-year loan. were

According to a senior government official, the government was facing a shortfall of $3.5 billion for the project and Pakistan was hoping that Saudi Arabia would show interest in it, but Pakistan has not received any response in this regard.

Apart from this, Prime Minister Shahbaz Sharif has once again issued instructions to use Gwadar port for imports at the official level, but it is still not being used fully due to the lack of many facilities at the port.

Another offer to China to invest in Diamarbhasha Dam