KARACHI (January 20 2004): Federal Minister for Water and Power Aftab Ahmed Khan Sherpao said on Monday that the construction of big water reservoirs was vital for economic prosperity of the country but such a step would only be taken after evolving consensus among all the four provinces.

Talking to reporters at a reception hosted by Aqeel Dhedhi of AKD Securities here, the minister said grievances of each province have to be removed to reach a consensus. Sindh will definitely get its "rightful" share of water, he responded to a question.

He said the government had formed one political committee and another technical committee to review the issue of water reservoirs. These committees would help achieve a consensus among the stakeholders, he hoped.

Responding to a query, Sherpao said in the current budget, an allocation had been made for the feasibility of Bhasha Dam, but the allocation for construction of the dam would only be made when there would a decision about which dam has to be made first.

He added that feasibility of Bhasha Dam would be completed in 2004 after which it would be decided which of the two big dams is to be started first. However, he reiterated that the building of consensus among the provinces was a prerequisite for the construction of dams.

Later, addressing a large number of traders, stock brokers, businessmen and elite of the city, the minister said it is true that electricity tariff in Pakistan were higher as compared to other countries.

He said a task force had been formed to advance proposals and recommendations to lower electricity tariff.

This task force would submit its suggestions to him during next two days, after which, he assured, these would be implemented to curtail the losses and lower power price.

Aftab Sherpao said new independent power projects (IPPs) would be allowed to install only the indigenous plants as per policy. No plant would be allowed to use furnace oil.

Courtesy Business Recorder