He urged the bank to explore financing development projects in Pakistan and invited the chairman of the bank to visit Pakistan for the purpose. Official documents reveal that the first phase of 1200 MW LNG -fired power plant Bhiki( Punjab, District Sheikhupura, ie, 800 MW will be completed in March 2017 whereas the second phase will be commissioned in December 2017. The LNG-based power plant of 1200MW at Haveli Bahadar Shah (Jhang) will start generation 800MW of power in April 2017 while the remaining 400MW will be added to the system in December 2017.
The third LNG-fired power plant of 1200 MW will be established in Baloki (district Kasur). It will start production of 800 MW in May 2017 whereas the remaining 400MW will be commissioned in December 2017. The Private Power and Infrastructure Board (PPIB), a subsidiary of Water and Power Ministry, is actively pursuing the LNG-fired projects.
The spokesman said that Chairman and President of Exim Bank Fred Hochberg accepted the invitation and visited Pakistan in April 2016 along with other senior officials. The Chairman had a detailed meeting with the Finance Minister and was given a detailed briefing on various upcoming projects, especially energy projects where Exim Bank could participate. In consequence of the above efforts, the Bank has now expressed strong interest in providing financing for the three LNG-based power projects. The Bank has also offered multiple financing options for the consideration of the government of Pakistan.
Finance Minister, Ishaq Dar while welcoming the decision of US Exim Bank to finance LNG-based power projects has directed the relevant government departments to work out the details of financing at the earliest. The decision by the Exim Bank to finance the energy projects also indicates the confidence of international institutions in economic stability and improved investment climate in the country, the spokesman averred. The Ministry of Water and Power is confident that it will add 11987 MW electricity to the system after which the total dependable generation capacity will increase to 31019 MW in June 2018 against the current generation capacity of 19,900MW.