President asks ADB to start financing Diamer Bhasha Dam project

ISLAMABAD,Aug 26 (APP):President Asif Ali Zardari on Friday called upon Asian Development Bank (ADB) to start process of financing Diamer Bhasha Dam as the project has been approved at all internal fora of the country.The President said the project is useful as water storing reservoir, for production of inexpensive hydro energy of 4500 MW, for ensuring food and water security and for increasing cultivable lands.This he said during two separate review meetings, one about the ADB supported projects and the other about World Bank supported projects here at Aiwan-e-Sadr. The meetings were attended by Finance Minister Dr. Abdul Hafeez Sheikh, Federal Minister for Water & Power Syed Naveed Qamar, Federal Minister for Petroleum & Natural Resources Dr. Asim Hussain, Secretary General to the President M. Salman Faruqui, Deputy Chairman Planning Commission Dr. Nadeem-ul-Haq and federal secretaries of relevant ministries and heads of departments. During the meeting about ADB supported projects, Xiaoyu Zhao, Vice President, Juan Miranda, Director General and other officials of ADB were present. World Bank supported projects review meeting was attended by Rachid Ben Messaoud, Country Director, and other members of World Bank international team on energy sector. The President during the meetings said that the government was committed to reforming the energy sector as the availability of sufficient energy was critical for economic and social development in the country. He said that a committee headed by the Finance Minister had been constituted to formulate a plan to address various issues of the energy sector including both short and long term. The President also emphasized improving communication infrastructure as to promote inter and intra state trade activities. He said Pakistan due to its geo-strategic location provides the shortest possible sea access to many countries of the Central Asia. With better road infrastructure and well-designed communication networks the real potential of trade can be encashed by the regional countries, he reiterated. The President also sought support for the construction of roads through the CAREC Funds for integrating Pakistan with Central Asia.