ISLAMABAD - Playing with the future of motherland vis-à-vis its pursuits of accomplishing energy needs and goal-oriented food security plans, International Financial Institutions (IFIs) are out to throw Pakistan into the rock-bottom depths of darkness through their sick-minded and ill-conceived conspiratorial policies and devilish demeanours to jeopardise the energy scenario in the country, this newspaper has confidently learnt on best authority. Sources in Water and Power Ministry informed TheNation that fate of two strategically important hydel power projects of Diamer Bhasha Dam and Dasu Dam of the country are still in doldrums due to unavailability of needed funds coupled with ostensible unwillingness by the IFIs to invest on them. Similarly, delay in the construction of Diamer Bhasha Dam has caused increase worth of $2.5b in the cost of the construction of the dam now, adding, that this hydel project is faced with five years delay which was initially planned to meet the future water needs of country particularly the dream of food security (agriculture) and cheap hydel power in the country.Available documents further confirmed that in accordance with Project Component-1 (PC-1) designed for the construction of the Diamer Bhasha Dam a cost worth of $11,17 billion was estimated in 2009, which however, has now reached at $13,68 billion with an increase of $2.5billion due to delay.With a storage capacity of about 8 million acre feet (MAF) and projected electricity generation of 4,500MWs, Diamer-Bhasha Dam project will top both Tarbela and Mangla dams, whose storage capacities have fallen drastically due to silting over the years. The project was to be completed by 2017 but due to some critical financial problems i.e, lack of interest by major financers both multilaterals as well as bilateral, the project is now expected to be delayed for another 3-4 years. Dam will have a height of 272 meters spillway with fourteen (14) gates each 11.5 m x 16.24 m. The gross capacity of the reservoir will be 8,100,000 acre feet (10.0 km3), with a live storage capacity of 6,400,000 acre feet (7.9 km3). Two underground power houses are being proposed, one on each side of the main dam having six (6) turbines on each side with total installed capacity 4500 MW. Initially, the ADB had committed $4.5 billion to $5 billion for construction of the project. The bank had also pledged that it would act as the government’s investment banker in raising the money from international capital markets to meet funding requirements. But reportedly, the Asian Development Bank (ADB) has recently refused to fund the dam on the grounds that it will be difficult for the lending agency to arrange the entire funding on its own and it needs collaboration from other international lending agencies as well. Similarly, it has linked its funding with the Indian clearance over the project. However, talks with the ADB are reportedly continued to convince the lending agency not to withdraw its support even if there are problems in arranging funds from other international lending agencies. Earlier, the ADB had committed $4.5 billion to $5 billion for construction of the project while the bank had also promised to cooperate with the government in raising the money from international capital markets to collect the entire financing for Diamer-Bhasha dam.Likewise, the World Bank has already refused to provide funds for the initiative reportedly fearing a backlash from India as New Delhi considers Gilgit-Baltistan a disputed territory. However, the United States had assured up to $500 million in assistance for the project to be paid out of the $7.5 billion Kerry Lugar aid package.Sources also told that since the multilateral donors asked Pakistan to seek NOC from India for Diamer Bhasha dam so the country has been searching for alternative financing sources. The Chinese government has already offered Pakistan skilled labour for the construction of Bhasha Dam. China has 17,000 skilled workers, who have worked on the giant Three Gorges Dam, which is producing 30,000 megawatts of electricity.Prime Minister Raja Pervez Ashraf is set to seek Chinese financing for 4,500 megawatts Diamer Bhasha Dam during his current visit to the China as the multilateral donors including the World Bank and Asian Development Bank (ADB) had sought no-objection certificate (NOC) from India due to the dam “being situated in a disputed territory”. They said during last month the government officials also decided in a Planning Commission meting to borrow money from banks with 50percent guarantees to be provided by the central government and the remaining by the Water and Power Development Authority (Wapda). The loans will be taken against security of assets like turbines of dams. Earlier, the World Bank had also shown its willingness to extend financial assistance to the 4,320MW Dasu Hydropower Project to be constructed in phases after work on the 4,500MW Diamer-Bhasha Dam. About the future of Dasu Dam official sources further said that construction of 4320megawatts Dasu Dam situated at Indus River is not possible in next fifteen years owing to paucity of funds and the government has been fully informed about the difficulties due to lack of financing being faced by the project. They said due to delay in provision of funds by the International Financial Institutions (IFIs) for the construction of both dams, could be termed as ‘lifeline for Pakistan’, has raised serious questions about the future of the energy starved country.The Dasu project is part of the least-cost energy production plan of Water and Power Development Authority (WAPDA) aimed at harnessing the country’s hydropower resources to improve the share of hydroelectricity in energy mix. The project was planned to generate 21.3 billion units of electricity per annum and will also have positive impact on existing hydropower stations including Tarbela, Ghazi Barotha and Chashma.It is noted here that multilateral donors have asked Pakistan to seek a no-objection certificate from India to pave the way for financing the Diamer-Bhasha Dam, which they said, is situated in a disputed territory. Instead, they have offered to finance another project - Dasu hydropower, but the government has so far rejected their plan and interested to complete Bhasha Dam as a first priority.Dasu hydropower project a run of river scheme is located 7 km upstream of Dasu village on Indus River, 74km downstream of Diamer Bhasha Dam and 350 km from Islamabad. The project is located in Kohistan district of Khyber-Pakhtunkhwa.Reportedly, Russia has sought direct award of a construction contract for the Diamer Bhasha Dam in a government-to-government deal without resorting to international competitive bidding. However, Pakistan faced with water and power shortages is looking for funds from China and Russia, who in turn want a government-to-government deal without international bidding. The government’s search for funds came after multilateral donors asked Pakistan to get a no-objection certificate from India for the dam’s construction.It is worth mentioning here that the Diamer-Bhasha dam with a projected capacity of producing 4,500MW of electricity is formally on course some three decades after the first feasibility report on the project was concluded during Gen Zia`s rule. It has been a long journey signifying loss of precious time as well as the extreme difficulties such projects have to deal with.The first stone in the construction of the dam has come about after long deliberations and many false starts. After the submission of the first feasibility report in 1984, the idea was stalled for a period in the 1990s over the local population`s objections. By the time the second feasibility report was ready, a few elected governments had come and gone, and the country was being ruled by the Musharraf regime. Diamer-Bhasha was included in Gen Musharraf`s grand five-dam design which he announced in January 2006.