China to fully finance Diamer Bhasha dam in Pakistan
In a major development regarding the construction of Diamer Bhasha dam, China has agreed to completely finance the $8.5 billion project, sources in Water and Power Development Authority (WAPDA) told on Thursday.
German Company Lemhyer has issued final draft of the dam in which the company has projected the cost of dam at $8.5 billion against the earlier projected cost of $6.5 billion in the year 2005. Government wants to start the construction work on Bhasha dam in the year 2009, sources added.
Pakistan has turned to China regarding the financing of the project after World Bank refused to add the project in the $1.4 billion aid for current financial year 2008-09. They further said that World Bank lending rates are higher and China would provide loan on lower rates. Pakistan had submitted the draft of detailed engineering design of the dam and in response China has agreed to provide financing for the said project. Sources informed that China has also great expertise in the working on big dams and it has expert labour force and machinery for such purposes.
Chinese government has offered Pakistan to provide skilled labour for the construction of the Bhasha dam as it has 17,000 skilled labourers who have worked on three Gorges Dams in china, which are generating 30,000MW electricity. They said that China has also assured that it would hire a company to provide financing to Pakistan for the construction of the dam. Earlier, Pakistan was looking at Asian Development Bank (ADB) and World Bank.
Government has allocated Rs 200 million in Public Sector Development Programme (PSDP) 2008-09 for Bhasha dam.
The government has started work to develop infrastructure for communication link of Bhasha dam and in this regard the work on a Karakuram Highway to link Bhasha dam was also in progress. Karakuram Highway would be upgraded at cost of Rs 11.578 billion and government has released Rs 2 billion for the said project.
Final draft of Bhasha dam: German Company Lehmar has issued final draft of Diamer Bhasha dam which indicated that as many as 37,000 families would be affected following the construction of the dam. Lehmar has submitted final detailed engineering design to the Water and Power Development Authority (WAPDA) in which it has recommended the government to set up nine model villages near Gilgat to accommodate the affected families. The company has also recommended allotting five Marlas for residence per family and six canals to one family for agriculture purpose.
According to the design, dam would generate 4500MW power and its water storage capacity would stand at 7.5 million acre feet (MAF) whereas dam would have four turbines and two powerhouses.
Full Version: China To Fully Finance Diamer Bhasha Dam In Pakistan
Great going... Take that you looter bank of the world aka WB... I say we ditch the WB and IMF altogether... Go China!
I just hope our politicians don't ###### this project up as well.
I just hope our politicians don't ###### this project up as well.
yayyy... china has always supported pakistan in tough times....
My salute to this sincere friend named China.
I guess, China can use a fraction of 1.8 trillion dollars forex reserves to replace Shylock like WB and IMF who demand pounds of flesh from poor world for the money they lend.
China can buy friends in a way these institutions can't.
I guess, China can use a fraction of 1.8 trillion dollars forex reserves to replace Shylock like WB and IMF who demand pounds of flesh from poor world for the money they lend.
China can buy friends in a way these institutions can't.
I am really glad that China is helping Pakistan
anyone knows the duration of this project ? from which year to which year ?
and zardari still dosen't have an ambasador to china ........
and that metal case, called ishaq dar lives in the colon of WB/IMF; guess where his first trip was after become finance minister.
anyways, pakistanis deserves clowns like him and zardari.
and that metal case, called ishaq dar lives in the colon of WB/IMF; guess where his first trip was after become finance minister.
anyways, pakistanis deserves clowns like him and zardari.
Yes this is all good but the Pakistani must make it clear that most of the labour employed will be domestic and foreign experts/workers will only be used when needed
reservior and hydro-electric capability of Northern Areas is enormous. it can manage too much employment and giga wattage for local people for centuries to come. we need to explore for more projects beyond Diamir-bhasha. Like sakardu Dam can assure water to be available around the year everywhere in pakistan....(Storage capacity MAF 15.52 vs 5 MAF of Tarbela)
China can help as expert friend.
Don't forget that such mega projects don't mean just 5-7 years building jobs. they provide permanent infrastructure and support jobs for locals too.
China can help as expert friend.
Don't forget that such mega projects don't mean just 5-7 years building jobs. they provide permanent infrastructure and support jobs for locals too.
We should try to deal with China on a full time scale.
Kenya has a massive resource program with them. Chinese companies are mining for copper, but all the labour is Kenyan and for every 1 chinese engineer or specialist employed, 2 kenyans are trained in the same role. Furthermore the profits are split 60-40 from the copper mine between the Chinese company and the Kenyan government.
We could do something similar with coal mines.
Kenya has a massive resource program with them. Chinese companies are mining for copper, but all the labour is Kenyan and for every 1 chinese engineer or specialist employed, 2 kenyans are trained in the same role. Furthermore the profits are split 60-40 from the copper mine between the Chinese company and the Kenyan government.
We could do something similar with coal mines.
QUOTE(platinum786 @ Aug 15 2008, 08:15 AM) 
We should try to deal with China on a full time scale.
Kenya has a massive resource program with them. Chinese companies are mining for copper, but all the labour is Kenyan and for every 1 chinese engineer or specialist employed, 2 kenyans are trained in the same role. Furthermore the profits are split 60-40 from the copper mine between the Chinese company and the Kenyan government.
We could do something similar with coal mines.
Kenya has a massive resource program with them. Chinese companies are mining for copper, but all the labour is Kenyan and for every 1 chinese engineer or specialist employed, 2 kenyans are trained in the same role. Furthermore the profits are split 60-40 from the copper mine between the Chinese company and the Kenyan government.
We could do something similar with coal mines.
This sounds very good, I hope China will do everything she can to help Pakistan in this hard time.
Just like the United States made Western Europe after WWII now China is making Africa and Asia.
Its a shame that Pakistan hasnt managed to take good advantage of it.
China is the only true freind of Pakistan.
Its a shame that Pakistan hasnt managed to take good advantage of it.
China is the only true freind of Pakistan.
Great news.
and zardari still dosen't have an ambasador to china ........
and that metal case, called ishaq dar lives in the colon of WB/IMF; guess where his first trip was after become finance minister.
anyways, pakistanis deserves clowns like him and zardari.
Instant .. i was about to say that .. you took the words out of my mouth.
Thank you China.
and that metal case, called ishaq dar lives in the colon of WB/IMF; guess where his first trip was after become finance minister.
anyways, pakistanis deserves clowns like him and zardari.
Instant .. i was about to say that .. you took the words out of my mouth.
Thank you China.
Been advocating it for a long time. Finally, some sense prevailing. Such funding shouldn't only be restricted to a dam, but initiated in many other areas.
QUOTE(BaburMissile @ Aug 16 2008, 03:23 AM)
Been advocating it for a long time. Finally, some sense prevailing. Such funding shouldn't only be restricted to a dam, but initiated in many other areas.
it is in favour of both third world and China.
China tried to buy Unocal, and Americans kicked in reply. If dollar reserves cannot buy American companies, what good can they buy?
China may use "his dollars" to strike out Economic terrorist global financial organizations from strategic playgrounds. just go to screwed up nations, and give them options to "refinance" their IMF and WB loans with his dollars.
In return it will bring more stable investment, cooperation, millions of new jobs, and more peace to China and his new friends.
sounds practical, doesn't it?
QUOTE
just go to screwed up nations, and give them options to "refinance" their IMF and WB loans with his dollars.
They should start with Pakistan and Turkey.We can't thank them enough.
QUOTE(aziqbal @ Aug 15 2008, 09:22 AM)
Its a shame that Pakistan hasnt managed to take good advantage of it.
That's true. China has never been the first choice ot preferred partner in this project. I suspect that the World Bank is bit too greedy on the financial terms and too restrictive on other conditions.
QUOTE(macau boy @ Aug 16 2008, 06:50 PM)
That's true. China has never been the first choice ot preferred partner in this project. I suspect that the World Bank is bit too greedy on the financial terms and too restrictive on other conditions.
The WB and IMF are nothing more than a malign political instrument and mouthpiece of the US. It's a US institute to bribe and burden nations with horrible debts. Only on US green signal, does the WB/IMF provide loans to developing nations. The best thing (especially for Pakistan) is to avoid such crooked institutes at all cost. China, SA and ME countries on the other hand are friendly rich nations that can provide Pakistan with soft loans, investment and all the assistance they need. A much better and safer alternative if you ask me.
wikipedia is not very popular on pdf, but u will be amazed on a table they have on IMF page that has an interesting claim with quiet good numbers to support it.
IMF/World Bank support of military dictatorships?
The role of the Bretton Woods institutions has been always controversial. One of the many criticisms faced by the IMF (along with the World Bank and other IFIs) is that it has provided support to military dictatorships friendly to American and European corporations. Critics also claim that the IMF is generally apathetic or hostile to their views of democracy, human rights, and labor rights. Critics have gone as far as to argue that democracies have fallen after receiving IMF loans.[18] Those kinds of views are particularly widespread among the heterogeneous groups that form the anti-globalization movement.
Those criticisms, however, fail to take into account the fact that the IMF supports a member country when asked for assisstance (such as financial or technical), with the support of the Executive Board. That support takes place regardless of the political regime that a country has and also without taking into account whether the authorities of the country in question are friendly or unfriendly towards certain countries. An argument in favor of this stance is that the people living in the country that is requesting assisstance are to benefit from it, regardless of the political regime.
Countries that were or are under a Military dictatorship whilst being members of the IMF/World Bank (support from various sources in $ Billion):[19]
Country indebted to IMF/World Bank Dictator In power from In power to debts at start of Dictatorship(1) Debts at end of Dictatorship(2) Country Debts in 1996 Dictator debts generated $ billion Dictator generated debt % of total debt
Argentina Military dictatorship 1976 1983 9.3 48.9 93.8 39.6 42.00%
Bolivia Military dictatorship 1962 1980 0 2.7 5.2 2.7 52.00%
Brazil Military dictatorship 1964 1984 5.1 105.1 179 100 56.00%
Chile Augusto Pinochet 1973 1989 5.2 18 27.4 12.8 47.00%
El Salvador Military dictatorship 1979 1994 0.9 2.2 2.2 1.3 59.00%
Ethiopia Mengistu Haile Mariam 1977 1991 0.5 4.2 10 3.7 37.00%
Haiti Jean-Claude Duvalier 1971 1986 0 0.7 0.9 0.7 78.00%
Indonesia Suharto 1967 1998 3 129 129 126 98.00%
Kenya Moi 1979 2002 2.7 6.9 6.9 4.2 61.00%
Liberia Doe 1979 1990 0.6 1.9 2.1 1.3 62.00%
Malawi Banda 1964 1994 0.1 2 2.3 1.9 83.00%
Nigeria Buhari/Abacha 1984 1998 17.8 31.4 31.4 13.6 43.00%
Pakistan Zia-ul Haq 1977 1988 7.6 17
Paraguay Stroessner 1954 1989 0.1 2.4 2.1 2.3 96.00%
Philippines Marcos 1965 1986 1.5 28.3 41.2 26.8 65.00%
Somalia Siad Barre 1969 1991 0 2.4 2.6 2.4 92.00%
South Africa apartheid 1992 18.7 23.6 18.7 79.00%
Sudan Nimeiry/al-Mahdi 1969 present 0.3 17 17 16.7 98.00%
Syria Assad 1970 present 0.2 21.4 21.4 21.2 99.00%
Thailand Military dictatorship 1950 1983 0 13.9 90.8 13.9 15.00%
Zaire/Congo Mobutu 1965 1997 0.3 12.8 12.8 12.5 98.00%
IMF/World Bank support of military dictatorships?
The role of the Bretton Woods institutions has been always controversial. One of the many criticisms faced by the IMF (along with the World Bank and other IFIs) is that it has provided support to military dictatorships friendly to American and European corporations. Critics also claim that the IMF is generally apathetic or hostile to their views of democracy, human rights, and labor rights. Critics have gone as far as to argue that democracies have fallen after receiving IMF loans.[18] Those kinds of views are particularly widespread among the heterogeneous groups that form the anti-globalization movement.
Those criticisms, however, fail to take into account the fact that the IMF supports a member country when asked for assisstance (such as financial or technical), with the support of the Executive Board. That support takes place regardless of the political regime that a country has and also without taking into account whether the authorities of the country in question are friendly or unfriendly towards certain countries. An argument in favor of this stance is that the people living in the country that is requesting assisstance are to benefit from it, regardless of the political regime.
Countries that were or are under a Military dictatorship whilst being members of the IMF/World Bank (support from various sources in $ Billion):[19]
Country indebted to IMF/World Bank Dictator In power from In power to debts at start of Dictatorship(1) Debts at end of Dictatorship(2) Country Debts in 1996 Dictator debts generated $ billion Dictator generated debt % of total debt
Argentina Military dictatorship 1976 1983 9.3 48.9 93.8 39.6 42.00%
Bolivia Military dictatorship 1962 1980 0 2.7 5.2 2.7 52.00%
Brazil Military dictatorship 1964 1984 5.1 105.1 179 100 56.00%
Chile Augusto Pinochet 1973 1989 5.2 18 27.4 12.8 47.00%
El Salvador Military dictatorship 1979 1994 0.9 2.2 2.2 1.3 59.00%
Ethiopia Mengistu Haile Mariam 1977 1991 0.5 4.2 10 3.7 37.00%
Haiti Jean-Claude Duvalier 1971 1986 0 0.7 0.9 0.7 78.00%
Indonesia Suharto 1967 1998 3 129 129 126 98.00%
Kenya Moi 1979 2002 2.7 6.9 6.9 4.2 61.00%
Liberia Doe 1979 1990 0.6 1.9 2.1 1.3 62.00%
Malawi Banda 1964 1994 0.1 2 2.3 1.9 83.00%
Nigeria Buhari/Abacha 1984 1998 17.8 31.4 31.4 13.6 43.00%
Pakistan Zia-ul Haq 1977 1988 7.6 17
Paraguay Stroessner 1954 1989 0.1 2.4 2.1 2.3 96.00%
Philippines Marcos 1965 1986 1.5 28.3 41.2 26.8 65.00%
Somalia Siad Barre 1969 1991 0 2.4 2.6 2.4 92.00%
South Africa apartheid 1992 18.7 23.6 18.7 79.00%
Sudan Nimeiry/al-Mahdi 1969 present 0.3 17 17 16.7 98.00%
Syria Assad 1970 present 0.2 21.4 21.4 21.2 99.00%
Thailand Military dictatorship 1950 1983 0 13.9 90.8 13.9 15.00%
Zaire/Congo Mobutu 1965 1997 0.3 12.8 12.8 12.5 98.00%
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