ISLAMABAD: Amid a controversy over expensive rental power projects, a $800 million foreign investment for cheap hydroelectric power generation is unlikely to materialise mainly because of bureaucratic wrangling, despite full support extended by federal and Azad Kashmir governments.
This comes at a time when the federal government is finding it difficult to lure foreign investment to meet growing energy shortfalls and is approaching world capitals to secure supplies of oil, natural gas and liquefied gas for power generation at much higher prices, involving massive outflow of foreign exchange.
