Skip to content
Search

Latest Stories

Imran Khan's Bid to Crowdfund £10.74 Billion for Pakistan Dams

It's a far cry from those sponsored Facebook posts asking you to invest in a start-up's new digital watch or an unbreakable phone case. But Imran Khan wants Pakistanis to crowdfund a whopping £10.74 billion for desperately needed dams, a plea capitalising on nationalist fervour but ridiculed by detractors as unrealistic.

If it succeeds it would be the largest crowdfunding effort in history - shattering the current Kickstarter record 700 times over.


But Pakistanis have responded to Khan's plea with enthusiasm, the tally so far is just a drop in the ocean of what's needed to alleviate the country's chronic water crisis.

"We have only 30 days water storage capacity," cricketer-turned-premier Khan warned in a televised appeal this month.

"We already have so many loans that we have issues in paying them back... We alone will have to build this dam, and we can."

The biggest crowdfunding effort in the world to date, a Kickstarter campaign for the Pebble Time Smartwatch, raised just over £15.34 million in 32 days, according to the Wall Street Journal.

But Khan appeared undaunted by the magnitude of what he was asking.

If the millions of Pakistanis living overseas all contribute £766.79 then Pakistan will have the funds to build the dams, he claimed.

"I promise to you that I will safeguard your money," he added.

Critics say Khan's plan is little more than pie in the sky.

"You can't collect £10.74bn via crowdfunding. It's not feasible," Khaleeq Kiani, senior economics correspondent with Pakistani daily Dawn, told AFP.

"We have no example in which such a huge amount was collected to build such a huge project."

- 'Absolute water scarcity' -

Few would deny Pakistan desperately needs new reservoirs.

The country is rich in glaciers and rivers, but has just two large-capacity dams, and has for decades slept through warnings of a water crisis. With its surging population, experts warn Pakistan faces "absolute water scarcity" by 2025.

The government's plan is to build two facilities: the Mohmand Dam in the country's northwest, widely seen as feasible, and the much larger, troubled Diamer-Basha project in the north, first mooted in the early 2000s.

Its location in territory disputed by India means major international donors have refused to fund while financing terms proposed by ally China were rejected as too harsh.

Experts also question whether the Diamer-Basha Dam is feasible in an earthquake-prone region, while others point out that simply patching up Pakistan's current water infrastructure and rethinking its water policies would be more efficient.

This summer, the issue caught the attention of maverick supreme court chief justice Saqib Nisar, who created the dam fund in July.

Khan's decision to join the fray in September has transformed Nisar's idea into a nationalist cause, with the fund at the State Bank of Pakistan doubling to £25.30m, or 0.25 per cent of the target.

That includes a £7468.58 donation from the national football team, its winnings from a recent tournament, along with £6.13m worth of salaries donated by the powerful army.

- 'Every single rupee' -

The donations have flowed despite the fact that Khan, who took power in August, has offered no detailed plan for the money - or explained how Pakistanis could recoup their cash if the project fails.

The lack of specifics has not bothered many citizens who, in a country riddled with corruption, have placed their faith in "honest" Khan.

"Imran Khan will take care of every single rupee," said Islamabad shopkeeper Muhammad Naseem.

Khan has form. He built two of the country's only state-of-the-art cancer hospitals purely on donations, raising over £230.04m to date, a campaign that laid the foundations for his political career.

Concerns about the fundraising have centred on the chief justice Nisar, who used his power to force people to donate, demanding one lawyer give £6134.36 if he wanted more time in preparing his case.

Nisar has even suggested that opposing the fund was tantamount to treason.

The remarks invited a backlash.

Political analyst Ijaz Haider, writing in the Pakistani edition of Newsweek, wondered if experts who pointed out legitimate problems might find themselves in trouble.

Would they be "considered traitors to the cause?" he wrote.

Agence France-Presse

More For You

Eros Media

Eros had agreed to make the payment on 10 March to investors who bought bonds issued by the company on the London Stock Exchange in 2014.

Bollywood film group Eros Media may delay £3.75m payout to UK investors

THOUSANDS of UK investors are uncertain about receiving a £3.75 million payment from Eros Media World, a Bollywood film group, as the company has indicated it may not be able to pay on time.

Eros had agreed to make the payment on 10 March to investors who bought bonds issued by the company on the London Stock Exchange in 2014.

Keep ReadingShow less
india-ireland

Jaishankar met Harris over a working breakfast at the Department of Foreign Affairs, where they finalised an 'Action Plan' aimed at strengthening bilateral relations. (Photo: X/@DrSJaishankar)

India, Ireland to strengthen trade ties with new Joint Economic Commission

INDIA and Ireland have agreed to establish a Joint Economic Commission (JEC) to boost trade, investment, and technology collaboration, external affairs minister S Jaishankar announced after a meeting with Irish foreign minister Simon Harris in Dublin on Friday.

Jaishankar met Harris over a working breakfast at the Department of Foreign Affairs, where they finalised an "Action Plan" aimed at strengthening bilateral relations.

Keep ReadingShow less
Rachel-Reeves-Getty

Reeves is expected to announce welfare spending cuts worth billions of pounds in the Labour government's Spring Statement on March 26. (Photo: Getty Images)

Welfare system too costly, needs reform: Rachel Reeves

CHANCELLOR Rachel Reeves said on Friday that the UK’s welfare system is "costing too much" and must be reformed as the government faces financial pressures from high inflation and borrowing.

Reeves is expected to announce welfare spending cuts worth billions of pounds in the Labour government's Spring Statement on March 26. The statement will be a follow-up to her first budget last October, according to reports this week.

Keep ReadingShow less
Lloyds-UK-Reuters

People walk past a branch of Lloyds bank in London on January 17, 2025. (Photo: Reuters)

Lloyds to hire 4,000 tech workers in India, cut UK jobs: Report

LLOYDS Banking Group is hiring hundreds of IT engineers in India while planning to cut similar jobs in the UK, according to a report.

The bank aims to have 4,000 permanent technology and data employees in India by the end of the year, nearly half of its global engineering workforce, reported the Financial Times.

Keep ReadingShow less
India’s GDP ticks up 6.2 per cent
on increased spending last quarter

Decreased urban consumption and reduced government spending have dampened economic activity over the last few quarters

India’s GDP ticks up 6.2 per cent on increased spending last quarter

INDIA’S economy expanded a little more than six per cent in the December quarter, official data showed last Friday (28), marking an uptick from the previous quarter as the country prepares for the fallout of US president Donald Trump’s protectionist trade policies.

The figures – an increase from the July-September period – will likely be welcomed by policymakers in the world’s fifth-largest economy, which has been grappling with unexpectedly sluggish growth in the face of potential US tariffs.

Keep ReadingShow less