{"id":56227,"date":"2019-10-12T10:00:38","date_gmt":"2019-10-12T05:00:38","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=56227"},"modified":"2019-10-11T18:18:52","modified_gmt":"2019-10-11T13:18:52","slug":"ksa-to-finance-hydropower-project-in-jagran","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ksa-to-finance-hydropower-project-in-jagran.html","title":{"rendered":"KSA to finance hydropower project in Jagran"},"content":{"rendered":"

Islamabad: Saudi Arabia has agreed to finance the construction of Jagran-IV Hydropower Project in Pakistan, a news source reported. It will provide a loan of SAR 131.125 million for the project.<\/p>\n

Read<\/strong>:\u00a0FBR, KSA to sign MoU to curb misdeclarations, money laundering<\/a><\/p>\n

The Economic Affairs Division (EAD) has sent a letter to the Federal Board of Revenue (FBR) requesting to exempt the imports required for the project from customs duty. The letter also stated that both countries have prepared a draft of the loan agreement between them. It added that the relevant authorities from both sides will sign the draft soon.<\/p>\n

The letter also requests the FBR to submit its input on the hydropower project<\/a> to the EAD so that the authorities concerned could finalise the loan agreement draft.<\/p>\n

EAD officials have also revealed that Saudi Arabia has expressed its willingness to finance five water sector projects. The country plans to invest a sum of USD 1.27 billion for this purpose. In this regard, both sides also signed a Memorandum of Understanding (MoU) during Prime Minister (PM) Imran Khan\u2019s recent visit to Saudi Arabia. They added that both countries have also prepared agreements according to the MoU signed.<\/p>\n

Read<\/strong>:\u00a0KSA to invest in Balochistan\u2019s solar, oil sectors<\/a><\/p>\n

The funding provided by Saudi Arabia will be spent on Diamer-Bhasha Dam, Shounter Hydropower Project, Mohmand Dam, Jamshoro Power Plant, and Jagran-IV Hydropower Project.<\/p>\n

The development fund authorities concerned from Pakistan and Saudi Arabia will sign the final draft once the federal cabinet approves it.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: Saudi Arabia has agreed to finance the construction of Jagran-IV Hydropower Project in Pakistan, a news source reported. It will provide a loan of SAR 131.125 million for the project. Read:\u00a0FBR, KSA to sign MoU to curb misdeclarations, money laundering The Economic Affairs Division (EAD) has sent a letter to the Federal Board of Revenue (FBR) requesting to exempt the imports required for the project from customs duty. The letter also stated that both countries have prepared a draft of the loan agreement between them. It added that the relevant authorities from both sides will sign the draft soon. The letter also requests the FBR to submit its input on the hydropower project to the EAD so that the authorities concerned could finalise the loan agreement draft. EAD officials have also revealed that Saudi Arabia has expressed its willingness to finance five water sector projects. The country plans to invest a sum of USD 1.27 billion for this purpose. In this regard, both sides also signed a Memorandum of Understanding (MoU) during Prime Minister (PM) Imran Khan\u2019s recent visit to Saudi Arabia. They added that both countries have also prepared agreements according to the MoU signed. Read:\u00a0KSA to invest…<\/p>\n","protected":false},"author":68,"featured_media":56239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[13402],"persona":[],"class_list":{"0":"post-56227","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-ksa-to-finance-hydropower-project-in-jagran"},"acf":[],"yoast_head":"\nKSA to finance hydropower project in Jagran - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Saudi Arabia has agreed to finance the construction of Jagran-IV Hydropower Project in Pakistan, a news source reported. It will provide a loan\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/ksa-to-finance-hydropower-project-in-jagran.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KSA to finance hydropower project in Jagran - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Saudi Arabia has agreed to finance the construction of Jagran-IV Hydropower Project in Pakistan, a news source reported. 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