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Saudi Approves 901m Saudi Riyal Funding for Mohmand Dam

Saudi Arabia has approved funding of 901 million Saudi Riyals for the Mohmand Hydropower Dam’s construction.

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The Saudi ambassador conveyed this information with Federal Minister of Economic Affairs Omar Ayub, in addition to highlighting Prime Minister Imran Khan’s success.

The Saudi Development Fund has approved 901 million Saudi Riyals towards the development of the Mohmand Dam, he stated.

Omar Ayub informed Nawaf Bin Said Al-Maliki, the Saudi envoy, that monies would be utilised expeditiously so that the building of the project could be accelerated.

Prime Minister Imran Khan performed the groundbreaking ceremony at the Mohmand Dam construction site, where he stated that previous governments negotiated extravagant agreements in lieu of constructing dams for affordable electricity generation.

Our capacity payments will increase to Rs 1,455 billion by the year 2023 as a result of these prohibitively expensive agreements, the prime minister said while speaking to the media there. This is because we are obligated to pay for them regardless of whether or not we purchase electricity from them.

However, Prime Minister Khan stated that his government is worried about the future of the nation, not just winning the next election, and that ten projects for cheaper electricity will be completed by 2028.

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