ISLAMABAD  - The 4500MW Diamer Bhasha Dam Project is being implemented on priority and the federal government has allocated about Rs.13.78 billion for the project during the fiscal year 2012-13.

Official sources told APP here that as many as 14 local contracts had already been awarded and construction work on WAPDA offices, colonies, contractors’ camp, road infrastructure was in full swing. They said that the process to acquire land for the project both in Gilgit Baltistan and Khyber Pakhtunkhwa had also been started while a sum of Rs 6.85 billion had been paid to the respective governments till June 2012 for the purpose.

The sources said that the multi-purpose Diamer Basha Dam Project would usher in an era of prosperity and development in the country, particularly in Gilgit Baltistan. A lucrative compensation package for affectees of the project had been devised in accordance with international standards.

It is pertinent to mention that Diamer Basha Dam Project is located in Gilgit Baltistan and Khyber Pakhtunkhwa. On completion, the project will store 8.1 million acre feet of water in addition to generating about 20 billion units of low-cost hydel electricity every years.