01.11.2012 - Pakistan: IDB dismayed over huge rise in Neelum-Jhelum project cost
Islamic Development Bank (IDB) has expressed its dismay over massive rise in the cost of Neelum-Jhelum hydropower project from Rs 84 billion to Rs 274 billion and refused to extend loan of Rs 90 billion more, a senior official at Ministry of water and Power told Pakistan Observer. “The bank said that it would provide Rs 45 billion only if the government generates the Rs 45 billion from its own resources. The bank said that Finance Ministry will have to come up with the guarantee that it would provide Rs 45 billion extra from its resources.”..............................................Full Article: Source
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