There are several controversies surrounding the Minister of Water and Power Development Agency (WAPDA). The current Federal Minister said that harnessing the water resources of the country is the key to national development.
The Federal Government is developing water and hydropower projects across the country, and enhancing the ratio of hydel electricity in the National Grid. Low-cost energy is a major factor in stabilizing the economy and providing relief to the people. The Federal Minister lauded WAPDA's mammoth development portfolio and expressed gratitude to the agency's staff.
Omar Ayub Khan
Pakistan has recently convened a high-level meeting with Afghanistan to discuss the future of bilateral economic cooperation. In attendance were Pakistan's Minister for National Food Security and Research Syed Fakhar Imam, Special Assistant to the Prime Minister on National Security Moeed W. Yusuf, and Governor of the State Bank of Pakistan Reza Baqir. The meeting was also attended by senior officials from both countries and was focused on the challenges faced by the Afghan administration. In particular, the lack of technical experts, which he referred to as "brain drain," had left the major institutions unable to provide essential services.
Omar Ayub Khan is the Federal Minister of Economic Affairs. He recently chaired a high-level meeting to review the progress of the five-phase Tarbela Hydropower Project. He said that the government is removing barriers for investors and encouraging the private sector to establish LNG terminals without financial commitments. This is encouraging news for the country's economy. The Water & Power Development Authority (WAPDA) has already mobilized contractors and the construction activities have begun.
The meeting also focused on the situation of fertilizer in Pakistan. Although the country is in a state of supply of DAP, it is still insufficient to meet the demand of the industry. The Finance Minister assured the Chairman PSMA that the government is aware of the problems and challenges faced by the sugar industry and will take steps to address them. In the meantime, the Minister of Finance said that the Government will facilitate business activities and facilitate the business community. The regulation of sugar prices will help the country's economy grow in a sustainable manner.
WAPDA has a long way to go to achieve the goal of providing affordable electric power to the people of Pakistan. The government is striving to improve the energy sector so that it is affordable for everyone. However, the majority of energy produced in the country is sourced from foreign sources, which depletes the country's massive foreign reserves. With the help of the NEPRA, efforts are being made to increase power generation using indigenous resources.
The Finance Minister promised the delegation that the government would consider the request for fuel price increase. The delegation included Senior Vice Chairman Mr. Umar Afzal, President DHA EAA Mian Talat, and General Secretary Mr. Sarfraz Hussain. The Finance Minister also informed the delegation that keeping fuel prices subsidized will increase the country's current account gap and fiscal deficit, and put pressure on the foreign exchange reserves.
While addressing the issue of rising fuel prices, WAPDA is working hard to reduce the country's dependency on imported oil. It is important to remember that 90 percent of the nation's annual demand for ghee is imported. Therefore, the Minister of Finance and Revenue is attempting to address this issue by increasing local oil production and lowering imports. With the current fuel prices, Pakistan is reducing its foreign exchange reserves and limiting its dependence on imported oil and ghee.
The Minister of Finance and Revenue welcomed the delegation and emphasized that the government is committed to maintaining macroeconomic stability while pursuing fiscal discipline and welfare policies. However, he said that the current government is in transit and tough decisions are yet to be made. However, he reiterated that he is aware of the issues faced by the business community and will provide maximum support to the telecommunication sector to ensure its continued growth.
The Finance Minister also emphasized that his government is committed to creating a conducive environment for the business community. He also noted the valuable role played by the Jewelry industry in the country's economic development. The Minister assured that all issues raised during the meeting would be addressed as soon as the need arises. Ultimately, the facilitating of exports will boost the country's foreign exchange reserves and ensure the stability of its currency.
Moonis Elahi
Imran Khan has appointed Moonis Elahi as the federal minister for water resources. Elahi is a member of the National Assembly and the scion of Chaudhry Pervaiz Elahi. Faisal Vawda resigned from his National Assembly seat on March 3 to take up his new portfolio. Moonis Elahi was elected to the National Assembly in October 2018. Before that, he served as the speaker of the Punjab Assembly.
While the Elahi family has denied any wrongdoing, they have denied the allegations, saying they have declared their assets as required by law. The Elahi family spokesperson says they met with officials of Asiaciti Trust in January 2016 to set up a trust fund to hold two properties in Britain and buy a 24% stake in RYK Mills. These claims have been widely denied by the Elahi family.
WAPDA will work closely with stakeholders to implement the project. It is expected that the Dasu Hydropower Project will produce 4,320 megawatts of electricity. The Dasu hydropower project steering committee meeting was attended by World Bank officials, as well as high-level officials from the World Bank. The district administration of Dasu has acquired four185 acres of land for the project. Another 866 acres will be acquired by June next year.
While discussing the state of the economy, the ministers also discussed the availability of fertilizer and the issuance of a viable plan for the DAP subsidy. Additionally, the Finance Minister has instructed the Ministry of Industries and Production to develop a feasible plan for the determination of potato prices. The Minister of NFS&R is also tasked with expediting the forecasting unit.
The meeting was also attended by the Federal Minister of Finance and Revenue, the Secretary of the Ministry of Industries and Production, and the Chairman of the Planning Commission. Other Federal secretaries were present. During the meeting, the Federal Secretaries also discussed the project and made recommendations to ensure its smooth implementation. In the next phase, the Minister will announce the new government plan. You can contact the Ministry of Finance and Revenue if you would like to know more about the project.
In addition to this, the government has also been directed to expedite the import of edible oil from Indonesia and Malaysia. This action will ensure a smooth supply of this commodity for the people of the country and stabilize the current account and foreign exchange reserves. Additionally, the government has taken steps to enhance local production in order to minimize the impact of the price hike on the foreign exchange reserves. It is important for the government to make tough decisions.
The Finance Minister has assured the delegation that the government will review the proposal and consider it for implementation. The delegation includes the Senior Vice Chairman Mr. Umar Afzal, President DHA EAA Mian Talat, and General Secretary Mr. Sarfraz Hussain. The Minister of Finance and Revenue has stressed that the current government is fully aware of the problems faced by the business community and has taken necessary steps to overcome them.
After the meeting, Moonis Elahi, the Minister of Finance and Development Authority, welcomed the prospect of a revival of PSMC. The Ministry of Finance has directed ministries to work with the PC to eliminate bottlenecks and ensure the smooth running of the project. The CCoP has also asked the PC to work with all relevant stakeholders in order to make the project successful. With a clear view, the government will soon get on with implementing the plan.
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