ISLAMABAD, Aug 11 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin said that the development of Gilgit-Baltistan was the top priority of the government.
He said this while chairing a meeting of the Executive Committee of the National Economic Council (ECNEC) here Wednesday.
During the meeting, Minister for Planning, Development and Special Initiatives Asad Umer presented a summary regarding Attabad Lake Hydropower Project to be executed by WAPDA amounting to Rs. 25.4 billion.
The project envisages construction of 54 MW hydropower project located on the bank of Hunza River, towards downstream end of Attabad Lake. The energy generated from the project will be transmitted to the load centres in Hunza Valley.
After due deliberations, the Committee directed the government of Gilgit-Baltistan and WAPDA to work out an updated proposal ensuring sustainability of the project and present before the Committee for requisite approval.
The Ministry of Planning and Development tabled another summary regarding Pakistan Optical Remote Sensing Satellite (PRSS-02) to be sponsored and executed by SUPARCO. The satellite will generate very high resolution earth imaginary and designed for service life of at least seven years.
After detailed discussion, the Committee directed to present a feasibility report of the entire project to gauge its viability in the long run.
The Committee also directed to hire independent financial advisor(s) for exploring funding options and strengthening internal financial capabilities. The services of globally reputed technical advisors and consultants may be hired for support in design and procurement, it directed.
Federal Minister for Planning and Development, Asad Umar, Adviser to the PM on Commerce, Abdul Razak Dawood, Adviser to the PM on Institutional Reforms and Austerity Dr. Ishrat Hussain, Federal Secretaries and other senior officers participated in the meeting.
