ISLAMABAD

The Austrian Government has expressed willingness to provide a funding of $400 million to Pakistan for Tarbela-5 project, as proposed project has the potential to generate 1400 MW of electricity on the completion.

The Austrian Ambassador to Pakistan, Ms Brigitta Blaha met Finance Minister, Ishaq Dar here on Monday to discuss the proposed Tarbela-5 project.  Federal Minister for Water and Power, Khawaja Mohammad Asif was also present on the occasion.

Matters pertaining to proposed Tarbela-5 project came under discussion for which Austrian Government has expressed willingness to provide a funding of $400 million (300 million Euros). The Minister was apprised that the proposed project had the potential to generate 1400 MW of electricity on completion and an overall 800 million dollars investment was required to meet cost of its construction which also included $120 million to be incurred on a transmission line. There were also indication of providing finances from the ICBC China and savings from the Tarbela-4 project could also be utilised for the Tarbela-5, the Minister was told.

Lauding the Austrian Government’s initiative regarding the Tarbela-5 Finance Minister, Ishaq Dar said while the Ministry of Water & Power could focus on completing the PC-1 on priority, EAD could attend to financial matters thus an early implementation of the project could be made possible.

Meanwhile, Finance Minister, Ishaq Dar here on Monday chaired a briefing session regarding measures being undertaken for rehabilitation of TDPs and flood affectees.

Secretary EAD briefed the Minister that two specific documents on RNA, Recovery Need Assessment (for flood affectees) and R&R, Rehabilitation and Reconstruction strategy (For TDPs) had been prepared facilitating rehabilitation measures. The FATA and S&M Secretariats he said had made concerted efforts to finalise the document on R&R for TDPs, Secretary EAD added.

The Minister desired that rehabilitation measures should be carried out on a fast note and that the government wanted complete transparency in disbursement of assistance to flood affectees and TDPs.

The Minister asked for a detailed review of the schedule of rehabilitation work at the next meeting to be convened soon.