Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Business

Funds crisis delays Neelum-Jhelum hydropower project, cost rise to Rs274.88 billion

byCustoms Today Report
14/01/2015
in Business
Share on FacebookShare on Twitter

ISLAMABAD: A funding crunch will keep the Neelum-Jhelum hydropower project unfinished this year, forcing officials to treat 2016 as the target year for completion.

This was stated by project director Neelum-Jhelum hydropower project Lt Gen (retd) Muhammad Zubair, who was giving a briefing to the Senate standing committee on Kashmir Affairs and Gilgit-Baltistan (G-B) on Tuesday.

You might also like

Pakistan surpasses vietnam in rice exports during September 2026

03/11/2026

SECP blocks inactive companies from opening new bank accounts

02/11/2026

Zubair said the project has been delayed due to a constant shortage of funds since it was launched back in 2008, and due to the delay the cost has escalated manifold. He added that the overall project work has been completed up to 69 per cent so far. The total cost of the project has risen to Rs274.88 billion after a second revision of the PC-I of the project. So far, Rs166.3 billion have been spent on the project under different heads.

“This project was due to complete in 2015 but it could not be possible because of a shortage of funds; it will definitely be completed by 2016,” said Zubair. This hydroelectric project is being constructed near Muzaffarabad, Azad Kashmir, which would add 969MW electricity to the national grid once it is formally functional.

Zubair said it would produce 5.515 billion units of electricity annually. “It is a unique hydropower plant in the sense that the water will not be wasted even after generating electricity.”

According to him, 79 per cent work on the tunnels has been completed and excavation work for installment of turbines has been completed 100 per cent. Around 4,243 kanals of land has been acquired for the project; out of the total land, AJK authorities provided 719 kanals while the remaining 3,524 kanals was acquired from private land owners.

So far, six out of the 19 transformers for the project have reached Pakistan from China, and the remaining will soon arrive within the next 45 days.

Zubair also informed the committee that a Chinese engineer, along with three Pakistani workers, was killed during work on the project site last month. He said that Rs500,000 in compensation was paid to the heirs of each worker. However, committee members expressed their concern over the meagre amount paid to the heirs and recommended that they receive compensation as per the international standards.

The Azad Jammu and Kashmir’s chief secretary informed the committee about the damage and devastation caused by the monsoon floods last September.

The damages have been estimated at Rs4.539 billion. As per the AJK government’s statistics, 56 died and 87 others were injured due to heavy floods triggered by the monsoon rains.

The natural calamity has displaced as many as 46,979 people and affected 187 villages in various districts.

Related Stories

Pakistan surpasses vietnam in rice exports during September 2026

byCT Report
03/11/2026

ISLAMABAD: Pakistan recorded a significant increase in rice exports in September 2026, overtaking Vietnam despite tensions in the Gulf region...

SECP blocks inactive companies from opening new bank accounts

byCT Report
02/11/2026

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Saturday declared 39,704 companies “Inactive by Registrar” for failing to...

OGRA increases RLNG prices by up to 15.3pc in October

byCT Report
31/10/2026

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has increased regasified liquefied natural gas (RLNG) prices by up to 15.3%...

Pakistan’s exports rise 7.7 percent to $8.5 billion in 1QFY-2027

byCT Report
30/10/2026

ISLAMABAD: Pakistan’s remittances reached $10.9 billion in the first quarter of fiscal year 2026-27, marking a 14 percentage increase year-on-year,...

Next Post

CBSA reveals Customs Compliance Verification in 2015

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.