ISLAMABAD: President Asif Ali Zardari Friday urged the Asian Development Bank to be the lead financer of Diamer-Bhasha Dam Project.
The President said that early completion of this dam was crucial in view of its vitality in diversifying of the energy mix, production of cheap electricity for ensuring smooth running of the economic cycle and to enhancing storage capacity of much-needed water for ensuring continued agricultural productivity.
During his meeting with the Board of Directors of Asian Development Bank (ADB) here at Aiwan-e-Sadr today, the President said that energy shortage and water scarcity were among the major issues faced by the country that hindered smooth economic growth and Government's efforts towards poverty alleviation.
The delegation of Asian Development Bank (ADB) consisted of Maurin Sitorus, Ashok Lahiri, Kazuhiko Koguchi, Jerome Destombes, Richard Edwards, Ms. Khin Lwin, Siraj Shamsuddin and Werner E. Liepach.
The President was assisted in the meeting by Finance Minister Dr Hafeez Shaikh, Chairperson BISP Ms. Farzana Raja, Secretary General M Salman Faruqui, Petroleum Advisor Dr Asim Hussain, Senator Farhatullah Babar, Senator Syeda Sughra Imam, Deputy Chairman Planning Commission Dr Nadeem-ul-Haq, and other senior officials of the concerned ministries.
Briefing about the meeting, Spokesperson to the President Senator Farhatullah Babar said that the President emphasized that being a water-stressed country, it was important for Pakistan to urgently enhance its water storage capacity so as to ensure food security and continued agricultural productivity, which was backbone of the country's economy.
The President said that the project was also crucial as it would be generating 4500 MW of clean and environmental friendly energy to meet the growing demand of a developing economy.
He said that energy shortage was the major issue which was hampering economic development and growth of the country and was adversely affecting the Government's efforts to overcome imprints of heavy toll in the war against terror and that of the recurring natural disasters.
He said construction of Diamer Bhasha Dam was an integral part of Pakistan's strategy to control natural disasters like the devastating floods, diversify its energy mix by harnessing the renewable sources of clean, affordable and environmental friendly energy, generation of short and long term employment opportunities to focus on building massive infrastructure for overall socio- economic uplift of the area and standard of living of people.
He said that the Government has demonstrated its political will and tapping all avenues for generation of the resources for this project of vital importance.
The President said that the Government was also cognizant of the safeguard policies and concerns and therefore was adhering to ADB's principles for resettlement of the displaced persons and environmental protection.
He also appreciated the engagement of the Bank in TAPI natural gas pipeline project that will transport Caspian Sea natural gas from Turkmenistan through Afghanistan into Pakistan and then to India.
Expressing the hope for ADB's continued engagement the President appreciated its role played so far in coordinating and facilitating negotiation process of the project.
Discussing other mega projects, the President said that Pakistan believes that regional connectivity could play a key role in ushering a new era of socio-economic development and growth of the people of the region and thus undertaking every effort to promote regional connectivity, enhanced mutual cooperation of the regional countries in the energy sector and having greater mutual trade in the region.
In this regard, the President said, Pakistan would host Ministerial Conference of Central Asia Regional Economic Cooperation (CAREC) in 2016.
The President said that Pakistan was actively participating in all CAREC forums to expand connectivity and trade with its neighbours and to facilitate utilization of the available resources of the region to be put in the service of people for socio-economic development.
He also thanked ADB for positively responding to Pakistan's request for assistance in preliminary Damage & Need Assessment in Sindh and parts of Balochistan after the devastating floods had wreaked havoc in those areas.
He said Pakistan looked forward to continued assistance of the Asian Development Bank in its efforts to extricate people from the generational traps of poverty, ensuring socio-economic development of the people and to overcome the current challenges faced by the economy.
Maurin Sitorus, Executive Director ADB, said that poverty alleviation and social protection especially the welfare of the women was an important component of ADB.
In this context he appreciated Benazir Income Support Programme as a credible vehicle for poverty alleviation and women empowerment.
He said that ADB supports BISP and will continue to provide its support to the programme.
Maurin Sitorus congratulated the President on success of the BISP in reaching out to the poor segments of society and helping them in a meaningful manner.
The delegation thanked the President for the meeting and assured ADB's continued engagement with the country.
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