10 dams being built to overcome water shortage: PM Khan

ISLAMABAD: Prime Minister (PM) Imran Khan on Monday has said as many as 10 dams are being constructed to overcome water scarcity threat in the country, ARY News reported.

This he said while addressing an inaugural ceremony of Pakistan’s first Green Euro formally launched by the Water and Power Development Authority in Islamabad.

Regretting the lack of implementation of the decisions made in the country, PM Imran Khan said PTI government is initiating the projects today that were supposed to be launched 50 years ago.

“Lack of implementation is the biggest problem of Pakistan.”

PM Imran Khan congratulated the WAPDA for making inroads in the Mohmand and Bhasha dam projects and added that electricity would be generated after the construction of 10 dams in the upcoming ten years.

The premier said Pakistan was cruising on the path of development in the 1960s but later progress gone slow and even India and Bangladesh achieved more development as compared to Pakistan.

Imran Khan underlined the need for long-term planning for the upcoming generations.

Read more: ECC approves issuance of Eurobonds for Mohmand, Diamer Bhasha dams

On the Billion Tree Tsunami project, he vowed to achieve the target of planting 10 billion saplings until 2023.

The mass plantation will ultimately help in controlling the environmental hazards, he added.

Green Eurobond

WAPDA is issuing Green Eurobond to raise 500 million dollars for the financing of Diamar Bhasha and Mohmand Dams.

The Green Euro is being issued on the basis of WAPDA’s stable financial position instead of state-guarantee.

The world’s largest financial institutions have shown extraordinary interest in Green Eurobond which is a sign of confidence in the stable financial position of Pakistan and WAPDA as well.

The extraordinary response to Green Euro in the world financial market has opened new avenues for the financing of big projects in Pakistan.