‘Integrated mechanism needed to harness water resources’

LAHORE: Pakistan Water and Power Development Authority (Wapda) Chairman Lt Gen (retd) Muzammil Hussain has said a more integrated mechanism is needed to harness water resources across the country to attain water, food and energy security in Pakistan.

He was briefing a delegation of the National Security Workshop, National Defence University (NDU), Islamabad. The delegation headed by Maj Gen Asif Ali visited the Wapda House on Friday. The visiting delegation comprised members of the National Assembly, Provincial Assemblies of Balochistan, Khyber Pakhtunkhwa, Punjab and Sindh, Legislative Assemblies of AJ&K and Gilgit-Baltistan, bureaucrats, officers of the armed forces and members from the civil society. Briefing the delegation, the Wapda chairman said the Wapda has been constructing eight mega projects including Diamer Bhasha Dam, Mohmand Dam and Dasu Dam to improve water situation in the country and increase the share of low-cost and environment-friendly hydropower in the national grid. These projects, scheduled to be completed one by one from 2022 to 2028-29, will cumulatively add 11 million acre feet to gross water storage capacity, mitigate floods, irrigate 1.6 million acres and generate 9,000 megawatts of hydel electricity.

Responding to a question, the chairman apprised the delegation that the Wapda has been executing the projects with an estimated cost of $26 billion. An innovative financial plan has been devised to arrange funds for the construction of Diamer Bhasha and Mohmand Dams by exploiting its own financial strength with less dependence on national exchequer. The Wapda is the first public sector entity that has been given a stable outlook equivalent to Pakistan by the top three international credit rating agencies of the world, i.e. Moody’s, Fitch and Standard and Poor (S&P). The Wapda is also the first public sector organization in the country that is about to launch Green Eurobonds. “We are planning to raise $2.5 billion through issuance of bonds in next five years as per financial needs for the construction of our projects,” he added.

Dilating upon the factors behind the dismal water situation, the Wapda chairman told the delegation that per capita water availability in the country has come down from 5,650 cubic meters in 1951 to an alarming level of 908 cubic meters per annum, “pushing us to the stage of water-scarce country”. Pakistan can store only 10 per cent of its annual river flows against the world average of 40 per cent. “To tackle the impending water scarcity, we need to have more water storages besides practicing good water conservation and management strategies,” he said.