KATI applauded PM’s initiatives for constructing dams and Hydro power projects

Patron in chief of Korangi Association of Trade & Industry (KATI) S M Muneer and President Masood Naqi applauded the initiatives taken by Prime Minister Mian Muhammad Nawaz Sharif for establishing water reservoirs and Hydro power projects, in statement released by KATI. S M Muneer Said that approval of funds for long waited project of Diamir-Bhasha Dam and incentives for private investment in Hydro energy sector would not only bring energy deficit on end, but also will helpful to provide cheaper energy. He said that more dams, those are not disputed among the provinces, should be started to avoid water shortage in the country and to provide cheaper electricity to the domestic and industrial consumers as well.

President KATI Masood Naqi indicated that higher prices of energy are a big concern for domestic and industrial consumers. He said that competition is become more cunning due to new trend of “protectionism” globally. “In this scenario, expansion of country’s exports is become a harder task, which cannot be achieved without lowering cost of production” he said. Masood Naqi further said that hydro energy is a better solution, it is more sustainable and production cost is lesser than other means of energy, which is much needed to provide low cost electricity to the domestic and industrial usage. He also urged to begin construction of all undisputed water reservoirs across the Indus River.

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