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Mohmand Dam contract award to Descon is not conflict of interest: Razak Dawood

ISLAMABAD: Adviser to PM on Commerce, Textile, Industry and Investment Abdul Razak Dawood has said he is a shareholder of Descon and the company being awarded the contract for the construction of Mohmand Dam is not conflict of interest.

Naya Pakistan” on Sunday night, the premier’s adviser shared his stance on the controversy surrounding the award of Mohmand Dam contract to the joint venture of Descon and Chinese company, China Gezhouba.

“I am neither a chairman nor a director of Descon. I have left the company and am now only a shareholder,” Razak Dawood said.

“As a shareholder, it is possible that in this project I either make profit or suffer losses,” he added.

Responding to a question, Razak Dawood said, “The bidding process for Mohmand Dam started before I was appointed as an adviser and I had told Prime Minister Imran Khan that this might be an issue but in my opinion there is no conflict of interest in this matter.”

The adviser to the premier continued, “The company has not yet been given the contract, it has just emerged as winner in the bid.”

Speaking about the economy, Razak Dawood said, “Last year, the trade deficit was $37 billion. This year exports will be higher than before and we will try our best to take exports up to $27 billion.”

Last month, Water and Power Development Authority (WAPDA) chairman confirmed that the joint venture of Descon and China Gezhouba has won the bid for the construction of the Rs309 billion Mohmand Dam.

On January 18, Leader of the Opposition in the National Assembly Shehbaz Sharif demanded the formation of a parliamentary committee to probe Mohmand Dam contract award.

Speaking on the floor of the National Assembly, the opposition leader said, “A Rs309 billion project is being awarded on a single bid. As per PEPRA rules, if there is only one bidder then the bid should be done again or should be checked with the market if the offer is appropriate. Thus, I demand that a parliamentary committee is immediately formed over this matter.”

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