ISLAMABAD: In a major development, the Executive Committee of the Special Investment Facilitation Council (SIFC), chaired by Mr. Ehsan Iqbal, Minister of Planning Development & Special Initiatives, has recommended the development of hydropower projects having a total capacity of 245MW in Gilgit-Baltistan.
As per details, the proposed projects, located one in Ghizer, two in Gilgit, and one in Skardu, aim at benefitting a staggering 260,000 domestic and commercial consumers.
The envisioned hydropower projects are expected to bring a host of positive impacts to the region, fostering prosperity and overall development. By harnessing the region’s vast hydropower potential, these initiatives hold the promise of transforming the energy landscape, providing reliable electricity supply to thousands and promoting economic growth.
Following the approval of the recommendation by the SIFC apex committee, headed by the Prime Minister of Pakistan, the projects will be poised to attract major investments in the region. The meeting is scheduled to take place next week, and it is anticipated to be a momentous occasion for Gilgit-Baltistan’s future.
A key highlight of this development is the potential to draw significant foreign investment from countries in the Gulf Cooperation Council (GCC). Gilgit-Baltistan, with its strategic location and untapped resources, presents a promising investment opportunity for international investors, and the proposed Hydropower Projects are poised to make it a lucrative venture.
Speaking about the prospects of these projects, Mr. Ehsan Iqbal expressed confidence that this initiative will mark a turning point for the well-being and development of the region. The availability of clean and sustainable energy will undoubtedly empower the local communities, stimulate economic activities, and create a favorable environment for businesses to thrive.
As the SIFC gears up for the crucial meeting, hopes are high that the Apex Committee will recognize the significance of these projects and give the green light for their implementation.
