SC seeks investment proposals for dams’ fund

ISLAMABAD: Supreme Court (SC) Wednesday sought investment proposals from State Bank of Pakistan (SBP) in respect to the collected funds for construction of Diamer Basha and Mohmand dams excluding treasury bonds.

A five-member special bench, headed by Justice Sheikh Azmat Saeed and comprised Justice Umar Ata Bandial, Justice Faisal Arab, Justice Ijaz Ul Ahsan and Justice Munib Ahmed, heard the case regarding construction of Diamer Bhasha and Mohmand dams. During the course of proceedings, Water and Power Development Authority (WAPDA) chairman submitted report regarding construction of dams. The counsel for WAPDA said land purchasing process had been completed and the foundation stone laying ceremony would be held in March this year.

Justice Ijaz ul Ahsan directed Pakistan Electronic Media Regulatory Authority to take action against those channels airing fake news about dams.

Federal Board of Revenue (FBR) also submitted a report on water resources and collection of dam tax on mobile phones. The FBR chairman informed the court that legislation was needed for water resources and dam tax on mobile phones. Later, hearing of the case was adjourned till first week of April.