International institutions refuse to finance Diamer Bhasha Dam

October 10, 2015 Off By Web Desk

KARACHI: Almost all the international financial institutions have refused to finance the 4500 MW Diamer Bhasha dam therefore China should come forward to resolve the issue, a leading businessman said on Sunday.

Pakistan cannot become a stable country in absence of big dams therefore politicians should shun differences on Kalabagh dam and Pakistan should try to get funding for Diamer Bhasha dam from Chinese government, said Chairman of the United International Group Mian Shahid in a statement.

Alternatively, newly established Asian Infrastructure Investment Bank should provide the financing for investment in this mega project which Pakistan has been pursuing for many years despite opposition from multilaterals and a neighbouring country.

He said that masses would not have faced the problem of floods if mega dams were constructed therefore all politicians should unite in the national interest. Mian Shahid said that dams are imperative to resolve energy crisis which has crippled economy creating multiple problems for the society.

He said that all the patriotic forces should join hands for early construction of the projects that are considered lifeline for the country. Lingering issue of the KBD has potential to fuel conflicts therefore this matter of national importance should be resolved forthwith, he added.

Water which goes out of control and causes vast devastation can be stored and used for progress, development and prosperity, he said, adding that in the last four years more than 30 billion dollars have been lost due to floods.