Budget

Budget 2014-15: Govt earmarks Rs 205bn for power sector

ISLAMABAD: The government has allocated a sum of Rs 205 billion to execute different projects for the power sector.

Finance Minister Ishaq Dar, during his budget speech in the National Assembly, said widespread power shortages had badly damaged our industrial sector and added to the sufferings of the common people.

“We have taken a number of steps to address structural problems of the sector including reduction in system losses, improvement in recoveries, elimination of theft and settlement of inter corporate circular debt. However, our real focus is on developing additional resources of energy so as to permanently overcome the problem of shortages,” he told the house.

During the current year a sum of Rs.205 billion will be invested in this sector.

According to budget documents, the [major] projects included in the program include Neelum-Jehlum Hydro Power Project (969 MW), Diamir-Bhasha Dam and Hydropower Project (4500 MW), Tarbela Fourth Extension Project (1410 MW),Thar Coal Gasification Project (100 MW), Chashma Civil Nuclear Power project (600 MW), Two Karachi Nuclear Coastal Power Projects (2200 MW) with Chinese assistance, KeyalKhawarHydro Power Project (122 MW), AllaiKhawar Hydro Power Project (122 MW), Combined Cycle Power Projects at Nandipur(425 MW) and Chichoki Malian (525MW), Refurbishment and Up-gradation of

Units of Mangla Power Station, Up-gradation of Guddu Power Project (747 MW gas-based), conversion of oil based power projects to coal at Muzaffargarh and Jamshoro (3,120 MW), transmission network to evacuate power from Wind Power Projects in Jhimpir and Gharo, interconnection of Chashma Nuclear III and IV, interconnection of Thar Coal based Engro (1200 MW) and massive allocations to improve the transmission lines, grid-stations and distribution systems.

The minister said, “We have expended unusual efforts to make the dream of Dasu Hydropower Project a reality. The World Bank will soon be approving $700million for financing this critical project that will add more than 4500 MW of power after completion. We are designing innovative ways to mobilize the requisite finances for constructing this project within the shortest possible time.”

                 

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