FAUJI FOUNATION MD CALLS ON WAPDA CHAIRMAN

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April 27, 2021: Fauji Foundation Managing Director Waqar Ahmed Malik today called on WAPDA Chairman Lt Gen Muzammil Hussain (Retd). Matters relating to cooperation in implementation of WAPDA projects were discussed in detail during the meeting.

Speaking on the occasion, the Chairman said that WAPDA has been constructing as many as eight mega projects including Diamer Basha Dam, Mohmand Dam and Dasu 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 of land and generate 9000 megawatt of hydel electricity.

The Chairman further said that an innovative financial plan has been devised by WAPDA to arrange funds for construction of Diamer Basha and Mohmand dams by exploiting its own financial strength with less dependence on national exchequer. WAPDA is the first public sector entity that has been given 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). Therefore, these projects provide excellent investment and business opportunities for the international and local firms including Fauji Foundation, he said.