The Supreme Court of Pakistan has directed that the funds collected for the Diamer-Bhasha and Mohmand Dams be transferred to the government’s Public Account. The order, issued by a three-judge bench led by Chief Justice Qazi Faez Isa, instructs the closure of the Dam Fund account, previously maintained by the State Bank of Pakistan (SBP), and the creation of a sub-account in the Public Account for future use.
According to the SBP, the total amount in the Dam Fund, including principal and mark-up, is Rs23.67 billion as of October 4, 2024. The court noted that this amount represents only 3.2% of the funds required to complete the dams, which are projected to cost a combined Rs 740 billion.
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The court also observed that the Implementation Bench, tasked with overseeing progress on the dams, had not examined Wapda’s progress reports, rendering their submission pointless. As most members of the Implementation Bench have since retired, the court stated that further reports are no longer required unless specifically directed.
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