Federal Minister for Water and Power, Raja Pervez Ashraf said that US has agreed to finance the under-construction Gomal Zam Dam and Satpara Dam and pledge to encourage its private sector for investment in the energy sector.Pakistan would spend money from its own resources on construction of both the dams (Gomal and Satpara) and the US would reimburse $ 40 million and $ 20 millions, respectively, for these two projects.The Minister, who led the Pakistan side in the discussion on cooperation in the energy sector under Pakistan-US strategic partnership informed the decisions through a press statement issued from Washington after dialogue on water and power sector working groups.
The Minister said that these short term projects will help the country to generate cheaper electricity of 450 MW and it will be an addition in the hydel power generation.
The US approved financing for rehabilitation of old power plants and the detail of the plants and investment requirements have been provided to the US in this regard.
Mr Ashraf said that the United States has allocated $ 2 billion for energy sector development under Kerry Lugar Bill and the Ministry of Water and Power has readied its feasibility reports for projects up to year 2014.
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