PHPA II borrows fund for dam, not salary
April 13 | Kuensel
By Phurpa Lhamo, Wangdue
Punatsangchhu II Hydroelectric Project (PHPA II) borrowed Nu 600 million (M) from Mangdechhu Hydroelectric Project Authority to continue the speedy construction of the dam, officials said.
The project transited Nu 600M on March 20, after the PHPA II’s budget exhausted last month.
PHPA II’s managing director Amresh Kumar said such transitions were made in the past and it was a normal process. “There is budget for the project but because of some procedural problem, the fund release was delayed, which is why this internal arrangement was made.”
The borrowed amount wasn’t used to pay for the salary of the staff as rumoured.
Amresh Kumar said that the budget wasn’t for staff’s salary but for urgent business. “Even today we have fund available for the salary of staff. The Indian government is committed to provide all funds required to complete the project.”
The project is expecting the budget within two days time.
According to another PHPA II official, about 30,000 cubic meters of concreting was done every month. “The work at PHPA II is going at a very high speed and the consumption of fund is very high. We are committed to deliver the project by 2021 and we want the dam to be completed.”
The fund, according to project officials was used for cement and steel among others for the construction of the dam.