The World Bank would start two hydropower projects of 245 megawatts worth Rs13 billion in Swat district this year.
An official communique said the World Bank Mission, led by Senior Energy Specialist Muhammad Saqib, held a meeting with Secretary Energy and Power Syed Imtiaz Hussain Shah.
It was informed that with financial support from the World Bank, the construction work on the two hydropower projects in Swat district would be initiated soon. The projects include the 157mw Madian Hydropower Project and 88mw Gabral Kalam Hydropower Project.
In this regard, an agreement of $450 million has been signed between the WB and the provincial government. “These projects will be completed by 2027 and the province will have an annual income of more than Rs13 billion,” said the communique. Secretary Power Syed Imtiaz Hussain Shah appreciated the financial support of the WB for the development of the energy sector in the province. — ERMD

Barrick Gold Corporation is contributing $150,000 to Balochistan’s Provincial Disaster Management Authority (PDMA) to support its relief efforts in the wake of unprecedented floods in the region, says a press release issued by the company.
Remote communities in the province were hardest hit by the heavy monsoon rains which killed more than 500 people in Pakistan.
In a phone call with the province’s chief minister, Abdul Quddus Bizenjo, Barrick president and chief executive Mark Bristow expressed the company’s condolences on the loss of life and suffering inflicted on the people of Balochistan.
He said the contribution to the emergency fund was a demonstration of the spirit of partnership in which Barrick, Balochistan and Pakistan had embarked on the reconstitution and restart of the Reko Diq project, which holds one of the world’s largest undeveloped copper-gold deposits. Balochistan will have a 25% fully funded share in the project (10% free carried and 15% to be funded by the federal government). Pakistani state-owned enterprises will hold another 25% and Barrick, with 50%, will operate the mine.
“Balochistan will benefit enormously from its stake in the mine. Even before construction starts, once the legalisation process has been completed and the project reconstituted, we will start implementing social development programs representing an estimated investment of $70 million over the construction period. In addition, Reko Diq will advance royalties of up to $5 million in the first year, up to $7.5 million in the second and up to $10 million thereafter until construction starts,” Bristow said.
During peak construction the project is expected to employ approximately 7,500 people and once in production it will create 4,000 full-time jobs. Its policy of local procurement will stimulate the development of a robust local economy.
“Reko Diq has an estimated life of at least 40 years, so it will be generating substantial benefits for its Balochistan stakeholders for generations to come,” Bristow said. — PR

NESPAK celebrated the 75th Independence Day by arranging a simple but impressive ceremony at NESPAK House, Lahore last Sunday. The ceremony started with recitation from the Holy Quran and prayers were made for the national unity and progress of the country.
On this occasion, Dr. Tahir Masood, Managing Director NESPAK, hoisted the national flag and the national anthem was played.
Speaking on the occasion, the MD highlighted NESPAK’s contribution to national development. NESPAK played a key role in making Pakistan self-sufficient in the engineering sector. He quoted projects like Thar Coal Power, Basha, and Mohmand Dams for which NESPAK has been providing consultancy services.
Highlighting NESPAK’s performance, he made the revelation that NESPAK made a record business acquisition of Rs. 14.6 billion in 2022, and eight of its divisions recorded more than Rs. One billion business acquisitions, which is an all-time record since the creation of NESPAK.
He also paid homage to Muslims who rendered sacrifices for the creation of a separate homeland. He appreciated the hard work and efforts of NESPAK employees. On this occasion, the MD gave away shields to those employees who demonstrated good performance during the year. In the end, MD NESPAK cut a cake along with senior officials to mark the celebration. — PR

The better sense seems to have prevailed in Sewerage Treatment Plants (STPs) Project for Islamabad’s Rawal Dam. The authorities have now reportedly decided to go for the Environmental Impact Assessment (EIA)—a requisite that did not get due attention even before awarding the contract of the project.
The process of putting the project on a right track has its issues such as the escalation of the cost of the project which has risen to Rs.6 billion from the previous total of Rs.4 billion.
The project aims to treat contaminated water flowing into the dam from unplanned localities situated in the catchment areas. One each plant will be installed at lower Shahdara, Bari Imam, and near Banigala.
The Capital Development Authority (CDA) has revised the PC-1 of the project keeping in view the requirements of the project that as reports suggest will now go to the planning commission.n

Newly appointed Chairman of the Water and Power Development Authority (WAPDA) Lt Gen Sajjad Ghani (Retd) assumed charge of the office last week.
He is the 23rd Chairman of WAPDA. Lt Gen Sajjad Ghani (Retd), is a professional engineer and soldier, who has pursued two parallel career streams for over last four decades. He obtained Bachelor of Engineering Degree from Military College of Engineering in 1984. He was awarded Masters Degree in Civil Engineering form University of Engineering and Technology, Lahore in 1990. He has been Commander Corps Engineers and Quarter Master General Pakistan Army where numerous mega construction projects were executed under his supervision.
Lt Gen Sajjad Ghani (Retd) belongs to Corps of Engineers, commissioned in 1978, he has commanded Infantry Brigade and Infantry Division during Swat Operations, he has been Vice Chief of General Staff at GHQ. He has also commanded Corps at Karachi.