United Business Group (UBG) To Donate Rs100 Million To PM Dam Fund

United Business Group (UBG) Chairman, Iftikhar Ali Malik, will present a Rs100 million cheque to Prime Minister Imran Khan on Friday as a donation for PM and CJ Dam Fund.

ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Oct, 2018 ) :United business Group (UBG) Chairman, Iftikhar Ali Malik, will present a Rs100 million cheque to Prime Minister Imran Khan on Friday as a donation for PM and CJ Dam Fund.

The South Asian Association of Regional Cooperation (SAARC) Senior Vice President Iftikhar Ali Malik in his statement issued here Thursday said he would call on Prime Minister Imran Khan along with high level delegation of leading businessmen and hand over the cheque to show complete solidarity with the incumbent government in construction of the dams.

He said starting of immediate construction of Diamer-Bhasha and Mohmand dams is a positive and timely direction towards saving Pakistan from Indian water aggression and so is ensuring cheap electricity for future generations in the country.

He said they would give proposal to the government to adopt diverse options like listing the Diamer-Bhasha dam in domestic and international stock markets to generate funds. He further suggested that investors should be made shareholders for construction of the dam and government should provide guarantees to attract investment. He also appealed to overseas Pakistanis to contribute maximum donations generously to Dam Fund.

He said it was a good sign that every Pakistani was wholeheartedly wanted to save Pakistan from impending water crisis. However, criticizing the apathy of the previous governments and concerned authorities in saving water, he said Pakistan dumps water worth approximately $20 billion into the sea each year due to absence of water conservation systems.

"The country badly needs three Mangla-sized dams to conserve the amount of water that goes to sea each year as the country faces a 36 percent shortage in its water requirements at the moment," he said adding that if no water reservoirs are made, the country faces an extreme water shortage in the coming years. He said Pakistan was predominantly an agrarian economy as 60 percent of its population was directly or indirectly associated with agriculture, but with the gradually decreasing water supply, the country's food security may come under stress.

"Adoption of modern water conservation methods and agricultural practices is imperative to cope with water scarcity as Pakistan has been placed in red zone, due to low per capita water availability at 1,000 cubic metres," he added. We could bring millions of acres of land under plantations to increase our agricultural production, in addition to creating job opportunities for rural populace," adding that the dam would also provide cheap electricity and help Pakistan overcome load-shedding.

Iftikhar Malik urged all Pakistanis to assist the Chief Justice of Pakistan and PM Imran Khan in the direction of this nationwide trigger."It is a small contribution for an excellent trigger and may pave method for a greater future for all Pakistanis," he said.