Islamabad: Finance Minister, Ishaq Dar called on the Prime Minister, Muhammad Nawaz Sharif, in his chamber at National Assembly on Wednesday.
The Finance Minister apprised the Prime Minister on the World Bank’s approval for financing the Dasu Hydro power project (4500 MW).
Prime Minister said that $700 Million loan for Pakistan is a historical achievement. $600 Million will be utilized for Dasu Hydro Power Project and $100 Million for the Sind Irrigation project. Prime Minister congratulated Ishaq Dar and his team for this remarkable achievement.
“It shows the confidence of the Multi-lateral donors and foreign countries in the economy of Pakistan.” PM added. “The projects would play the role in diminishing the power shortages and better utilization of water resources.”PM said.
“The World Bank’s Loans are purely concessionary and cheap. The repayment schedule is spread over a period of 25 years including 5 years grace period, with low interest and nominal administrative charge of 2% per annum. It will also help in the deduction of domestic debt”. Finance Minister told.