Joint exploration of hydropower: Pakistan, Qatar may sign 2 MoUs

Saturday, 04 February 2012 09:00

ISLAMABAD: Pakistan and Qatar are likely to sign two Memoranda of Understanding (MoUs) according to which the two countries will jointly explore development of hydropower, identification of sources of financing, exploration of investment opportunities in energy sector, rehabilitation of existing hydropower plants and construction of National Highway and Motorway infrastructure, official sources told Business Recorder.
These MoUs, sources said, will be inked during the visit of Prime Minister Yousaf Raza Gilani, scheduled for February 6-8.
They said that a draft of MoU has been prepared which will be signed between the Ministry of Water and Power and Ministry of Energy, Qatar.
The objective of this MoU is to strengthen bilateral relations between the two countries, which will accelerate the process of providing energy access and sustainable power and water sector development cooperation for the benefit of both countries.
The Ministry of Energy of Qatar and Pakistan’s Ministry of Water and Power will cooperate in accordance with the MoU, subject to the relevant laws of each country, to jointly explore different avenues of cooperation.  The MoU will take effect on the date of its signing and will remain in force for a period of three years, unless earlier terminated or extended by mutual consent of the two countries.
Sources said that Ministry of Water and Power has examined the MoU and supports its signing as it pertains to hydropower development through joint research, transfer of technologies and capacity building. However, for procurement or construction of projects and in order to ensure transparency, relevant rules, instructions, international competitive bidding (ICB) and PPRA Rules shall be followed.  The MoU was referred to Law Division for vetting on January 30, 2012. Since the MoU will be signed during the Prime Minister’s visit to Qatar in the first week of February, the Ministry of Law and Justice should give its opinion in the Cabinet meeting.
Sources said that to create fiscal space to fund important projects of highways and motorways another MoU is likely to be signed with Qatar on provision of financial assistance through Qatar Development Fund (QDF).  Prime Minister, sources said, is also expected to discuss Afghanistan situation with his Qatari counterpart, in addition to situation in Arab countries.
Last month, Director General  Inter Services Intelligence(ISI), Lieutenant General Shuja Pasha (retired) visited Qatar to discuss matters relating to Afghanistan after which the United States of America (USA) allowed Afghanistan-based Taliban to open their offices in Qatar, aimed at facilitating talks between Afghan government, USA , Pakistan and other stakeholders.  Foreign Minister Hina Rabbani Khar visited Kabul last week where she held meetings with her counterpart and Afghan President Hamid Karzai and discussed different options for peaceful resolution of Afghanistan dispute. -MUSHTAQ GHUMMAN

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World Bank loans for development projects only: Ramon

SHAH ALAM, Jan 7 (Bernama) — World Bank loans are given only for capital development projects and not to fund cash-handout programmes such as the Bantuan Rakyat 1Malaysia (BR1M), said Asli Centre of Public Policy Studies chairman Tan Sri Ramon Navaratnam.
He said Malaysia’s relatively good economic performance made it possible to fund the government’s BR1M for households earning below RM3,000 a month.
“Firstly, the World Bank provides loans on certain conditions… and one important consideration is only for capital development projects and programmes.
“BR1M is neither a development project nor a development programme. The cash handout grants (BR1M) are grants met from the revenue of the budget’s current account. The grants are part of the government’s annual allocation,” he told Bernama here today.
Ramon was responding to Prime Minister Datuk Seri Najib Tun Razak’s statement yesterday that the country’s robust growth was sufficient to fund BR1M and there was no need to seek financing from external sources such as the World Bank.
When tabling the 2012 Budget in October, Najib had said that all households earning below RM3,000 a month would receive a one-off RM500 payment under BR1M.
Ramon, who was the alternate executive director of the board of directors of World Bank in the 1970s, said Malaysia had only taken loan from the World Bank for development projects.
“Even if the prime minister wanted to take a loan from the World Bank to fund BR1M, he could not do so because he is bound by the international financial institution’s lending conditions,” said the finance ministry’s former deputy secretary-general.

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