ISLAMABAD: Water and Power Development Authority (Wapda) chairman Syed Raghib Abbas Shah on Tuesday said the government was committed to provide cheap electricity to the consumers.

After completion of the ongoing energy projects, the power prices will come down in the country, said the wapda chief while speaking to Pakistan Television (PTV).

He said that foreign companies and consultants were working on different power projects and they had been provided full security, adding that Chinese, German and Korean companies were working on hydro-power projects in the country.

Shah appreciated Memorandum of Understandings (MOU's) on hydro projects signed between Pakistan and Korea and said the project would produce 1160 MW electricity.

He said the project will cost 2.6 billion dollars and it will be completed in four years.

Korean Ambassador to Pakistan, Choong Joo Choi speaking on the occasion, said the MoU signed between the two countries would be good for Pakistan’s future.

He said that Korea wants economic and trade relations with Pakistan adding that his country was also interested in the field of wind energy in the country.