WAPDA proposes to spend Net Hydle Profit amounts
It’s an unfortunate coincidence! Pakistan’s water resources are fast depleting due to climate change so are its development funds, that are shrinking every year. It makes the officials associated with water resources feel as if Pakistan may not build even a single large dam in 100 years.
Islamabad was supposed to release Rs120 billion for 18 water projects this financial year (2017-2018). However, it could release merely Rs36 billion! If the ratio of such release is computed then it will take 32 years to finish the job.
Secretary Water Resource division, Shamail Ahmad Khawaja shared his concerns with the Standing Committee on water resources led by MNA Khalid Hussain Magsi.
“With only Rs36 billion, it will take 14-32 years to complete these projects”, Khawaja said.The Council of Common Interests (CCI) has been recommended that all parties should approve water accord so that the reservoirs’ construction issue should be resolved on war-footings. For the year 2018-19, an allocation of Rs203 billion will be proposed, he says.
Besides scant funds diverted to water sector projects, cost escalations are also affecting the projects. For instance, the Bhasha Dam originally costing at US$12 billion has reached US$15 billion. For this project, the executors would require Rs120 billion in next financial year.
Aimed at ensuring cash flow for water projects, Water and Power Development Authority WAPDA has proposed to divert provinces’ Net Hydle Profit to constructing new dams and hydropower projects in the country.
