Chairing a meeting of the Gadani Power Park Steering Committee at Hub in Balochistan, Sharif said all measures should be taken to fast track the project.

Pakistan has been reeling under severe power shortage and even though the situation has improved in the recent past, the improvement is no where near the actual requirement of the country's growing industrial and domestic sector.

Sharif, who during his election campaign had focused on power generation, evinced keen interest in the Gadani Power Park Project that will house ten power plants of 660 MW each and was estimated to cost around USD 14 billion.

The work on the project will start in March 2014 when the first power plant will be installed, Sharif was informed by officials working on it. The rest of the plants will be installed by foreign investors on built-own-operate and transfer basis.

Pakistan said China has shown interest in installing four power plants. He directed to simplify the procedures in award of projects to private companies in a transparent manner.

He said the process must be designed such that projects are awarded on fast track basis. While referring to the way his previous government worked on the M-2 Motorway projects, Sharif said if he had not initiated the work through private sector there would have been no progress.

Sharif was also informed that the Balochistan government will provide 5000 acres of land for the power park that will be connected with a seven kilometre jetty to bring in 20 million tonnes of coal.

He directed his Finance Minister Ishaq Dar to approach the World Bank to arrange funding for the project.


Latest News from World News Desk