ISLAMABAD: The United States has agreed to finance the under-construction Gomal Zam Dam and Satpara Dam and also pledged to encourage its private sector for investment in the energy sector of Pakistan, an official said in a statement on Tuesday.
Federal Water and Power Minister Raja Pervez Ashraf said that Pakistan would spend money from its own resources on the construction of both the dams (Gomal and Satpara) and the United States would reimburse $40 million and $20 million, respectively, for these two projects.
He said that these short-term projects will help the country generate cheaper electricity of 450MW and it would be an addition in the hydel generation.
The United States has also approved financing for rehabilitation of old power plants and the details of the plants and investment requirements have been provided to it, he said. The US has also allocated $2 billion for energy sector development under the Kerry-Lugar Bill and the Water and Power Ministry has readied its feasibility reports for projects up to 2014, said Ashraf.
In the long-term perspective, he said, the US officials vowed to encourage the American private sector through either public-private partnership or as power producers to boost overall power generation.
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