ISLAMABAD: The coal-based 6,600MW Gadani mega Power Park Project to end load shedding has been postponed because of changing priorities of the Chinese government.
In a testimony before the National Assembly’s standing committee on planning and development, top officers of the power ministry and Pakistan Power Park Management Company (PPMC), which has been set up to specifically undertake and facilitate the Gadani mega project, said a decision had also “been taken that all work relating to PPMC may be handed over to the Private Power and Infrastructure Board for rationalisation of the project”.
The parliamentary panel was informed that the PPMC was set up in 2013 for construction of infrastructure like port facilities, coal handling, roads, jetty, etc, to enable setting up of 10 power projects of 660MW each and a transmission line for evacuation of its power. The cost of the entire project was estimated at $6-8 billion.
Pakistan to get $3b loan from Islamic Trade Financing Corporation
ISLAMABAD: Islamic Trade Financing Corporation (ITFC) to provide Pakistan with a $3 billion loan, according to an official statement released...
