1500 megawatt electricity to be produced with foreign investment worth $4.2 billion.

ISLAMABAD, June 12, 2009 (Balochistan Times) -- Federal Minister for Water and Power Raja Pervez Ashraf on Friday informed National Assembly (NA) that 1500 megawatt electricity will be produced in the country as a result of foreign investment worth 4.2 billion dollars. During a Question-Hour in the Senate (Upper House), Federal Minister for Water and Power Raja Pervez Ashraf told that hydel power was the need of the hour. He said that at present three major dams are planned to be constructed to tackle power crises in the country that include Diamer Basha, Kurram Tangi and Munda respectively. He said in addition 10 small hydro power projects of cumulative capacity 1110MW in Punjab, NWFP and Northern Areas are in the pipeline. He told the House that AEDB was created to undertake development of medium and long term national plans and policies based on wind, solar, micro-hydro, fuel cells tidal, ocean and biomass etc. Raja Pervez Ashraf said that GoP is providing tariff subsides of Rs 65 billions to PEPCO consumers and Rs 2 billion to KESC consumers during the financial year 2008-09. He said that the estimated increase in tariff that is being worked out and is still not been finally decided. He said that it is however, Policy of the Government to transfer least burden on poor segments of the Society. Advisor on Petroleum Dr Asim Hussain that since 1st January 2007 to date 22 exploration licenses were granted to different companies for the exploration of oil/gas in the country. He said that SCGP is producing 17,000 tons of blister copper with combined minerals plus 60,000 tons of iron concrete, annually. Advisor on Petroleum further told the Upper House that Pakistan-Iran Gas pipeline project will formally be completed by the 2013. Noor ul Qadiri said that disbursement of Zakat is with the provinces.

(THROUGH ASIA PULSE)