Global energy prices have dented many an economy and left them with a huge pile of debt.
Pakistan too was left fending for herself in the wake of rising oil prices, mismanagement and governance issues.
Finally The President of Pakistan, Mr Asif Ali Zardari finally announced the much needed Diamer-Basha Dam. The cost of the dam is estimated to be around $12 Billion, that would generate 19 billion units of electicity annually and enhance the life of the Tarbela dam by over 35 years.
This would be the worlds highest concrete dam and would generate 4500 MW electricity and store over 8 millions acre-feet of water to meet Pakistan's growing electricity and irrigation needs.
Many industries are set to get a kick start with the launch of the project. The local cement manufacturers already hurt with supply excesses will be heaving a sigh of relief.
Many such infrastructure projects are needed in Pakistan which have been ignored for too long, this may finally pave the way for development once again