The International Court of Arbitration at Hague has ruled in favour of India on the Kishanganga hydroelectric project and upheld India’s right to divert water from the hydroelectric project to Kashmir. However, water storage priority right will be decided by early completion of project by Pakistan or India, as per Indus Water Treaty. The Neelum-Jhelum project’s early completion is of immense importance to Pakistan to avoid a permanent loss of Rs. 30-35 billion per annum forever if failed to construct before India. The main reasons for our failure to complete this mega project in 2008 are significant delays caused by funding issues, poor planning and lack of national will to complete it before India's Kishanganga Hydroelectric Project.
Unfortunately, our leader’s self-interests were more important than construction of this national project. What a shame, our EX-Prime Minister managed to spend 47 billion rupees in his constituency but failed to arrange Rs.10-20 billion for this project. As a result work has almost come to halt due to non-payment to Chinese Companies by Government of Pakistan. Consequently, Chinese Companies also failed to pay Pakistani sub-contractors and suppliers even in some cases for the last two years. Moreover, Tenders for supply of various materials were called in the month of June-July 2012 but so far no Purchase Order for supply has been issued. The stoppage of work has created financial dilemma for Pakistani suppliers/sub-contractors who have obtained funds from banks. Banks have obtained decrees from Banking Courts to auction the mortgaged properties due to non-payments. The Tunnel Boring Machines costing Rs 19.5 billion are still not fully functional.
This national project is suffering a big blow due to non-issuance of funds. Therefore, I appeal to President of Pakistan, Caretaker Prime Minister, and Secretary of Finance Ministry to release funds on a war-footing for smooth construction operations to save Pakistan, Chinese Companies and Pakistani suppliers/sub-contractors. I also request Governor State Bank of Pakistan to direct to stop auction of properties of Pakistani suppliers/sub-contractors who became defaulters due to non-payment by Government of Pakistan
M M HUSSAIN,
Karachi, April 21.