ISLAMABAD: The World Bank has sanctioned a $1 billion loan for Pakistan to support the first phase of the Dassu Hydropower Project, aimed at enhancing and expanding the country’s electricity supply.
This funding is directed towards improving electricity provision and expanding access to socio-economic facilities. The Dassu Hydropower Project is poised to be a major development, significantly contributing to the production of affordable electricity in Pakistan.
Upon completion, the project will increase power generation capacity from 4,320 megawatts to 5,400 megawatts, with the first phase alone expected to produce 2,160 megawatts. This initiative is crucial for Pakistan as it seeks to reduce its dependence on expensive imported fuel-based power generation.
High electricity costs have driven households, factories, mosques, and hospitals to adopt solar power, adding strain to those still reliant on the national grid. This project aims to provide a more affordable and reliable electricity source to alleviate this burden.
In related developments, the Federal Board of Revenue (FBR) recently requested $25 million from the World Bank to implement an automated tax refund system under the Income Tax Ordinance (ITO) 2001. The FBR submitted a report titled “Findings and Recommendations of Committee for Effective Enforcement of Section 170A [of the ITO-2001]” to the Islamabad High Court (IHC) in a public interest petition.
