NEWS
Water  

Water-Stressed Pakistan Looks for Donations to Build Dams

As Pakistan faces worsening water scarcity - and trouble sourcing international cash for hydropower dams it says it needs - it has turned to an unlikely source of cash: A fundraising campaign backed by the country’s top court judges.

Last year Mian Saqib Nisar - then the country’s chief Supreme Court judge - donated $7,400 of his own money to start the drive, calling water shortages a major national threat, Reuters reported.

The drive aims to raise as much as $14 billion for two major dams.

Nisar retired in January from the court, but the current panel of top judges has taken over the push.

Some politicians from government opposition parties have dismissed the effort, calling it inappropriate and doomed to fail.

“Building dams is not the responsibility of the court,” said Bilawal Bhutto Zardari, chairman of Pakistan People's Party.

But efforts to solicit donations from as far away as the United States and Britain, largely from expatriate Pakistanis, have raised $70 million as of mid-February toward the “Chief Justice Dam Fund”, according to the Supreme Court of Pakistan’s website.

The country’s green-leaning Prime Minister Imran Khan backs the effort. 

“Water scarcity has been Pakistan’s number one issue and the country may face shortages by 2025 if dams are not built,” Khan warned in a state television address last September. He has urged Pakistanis living overseas to donate generously to the effort.

Nisar has said he took up Pakistan’s water worries as a personal campaign after Syed Mehar Ali, commissioner of the country’s Indus water treaty, testified in a court hearing last July about worsening water scarcity risks in the country.

Ali told the court that the country’s three western rivers - the Indus, Jhelum and Chenab - carry nearly 173 billion cubic meters of water but the country has water storage capacity for less than 17.3 billion cubic meters.

News No: 3736
Date: 2019/02/25 - 13:21
News Source: Financial Tribune

Pakistan  Dams  Saqib Nisar  Bilawal Bhutto Zardari 

Comments:

Leave a Comment:

   
   
   
 

Pakistan: Imported Scrap Prices Fall USD 10 in Recent Deals

SteelMint learned in recent conversations with industry participants that imported scrap offers to Pakistan have sharply declined over the last week on softening of prices globally, while trades in good volumes were concluded at favorable prices, with buyers taking advantage of India’s continued absence in the market.
 

Global Ferrous Scrap Market Overview - Week 28, 2019

Global ferrous scrap prices observed mixed trend this week. Turkey observed softening on a standoff between buyers and sellers which has resulted in a sharp correction in global offers towards the closing of the week.
 

Antofagasta, Barrick get almost $6 billion after legal win against Pakistan

A World Bank’s tribunal has awarded almost $6 billion to Tethyan Copper Co. (TCC), a joint venture between Antofagasta PLC (LON:ANTO) and Barrick Gold (TSX:ABX) (NYSE: GOLD) Pakistan, settling this way a seven-year battle over a multi-billion-dollar copper and gold reserve in the country.
 

Iran’s Trade Revenues from Exports to Pakistan Increasing

The Customs Department in Iran’s Southeastern port city of Chabahar announced that the office has witnessed a 38% rise in its collections in the first 3 months of the current local calendar year (March 21- June 21), compared with the corresponding period in 2018.
 

Should Iran private sector invest in failed Pakistan Steel Mills?

Islamabad is studying plans to privatise its bankrupt steel maker. But, it needs over $100m and such huge investment is hard to come by in cash-stripped Pakistan. Iran Chamber Newsroom analyses if Iranian private steel makers should invest in PSM.
 

Pakistan: What is the Impact of Budget on Steel Scrap Prices ?

Pakistan’s government declared its FY20 budget on 11th Jun’19 which has been implemented since the beginning of the new financial year on July 1st. The government has imposed a new tax regime in order to do away with the existing complex regime and realise the actual revenue potential of steel sector and support the industry.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners