ISLAMABAD, April 26: Pakistan on Tuesday sought more than $42 billion investment from multilateral and bilateral lenders for infrastructure development, capacity build-up and devolution programme to reduce poverty over the next five years.

On the concluding day of the Pakistan Development Forum 2005, the highest demand of $33bn was made by the government for water sector requirement till 2025.

Secretary Water and Power Ashfaq Mehmood told a gathering of about 200 diplomats and representatives of multilateral lenders that Pakistan required at least $12bn (Rs709bn) initially for the next five years.

He said the government would soon take up two large reservoirs that would require Rs378bn in the next five years. Another Rs278bn would be required for irrigation improvement, followed by Rs47bn for drainage and reclamation and Rs6bn for flood control.

He said the government had finalized a national water policy that would put in place a high-powered national water council.

He listed a host of infrastructure issues in the water sector. These included inadequate storages, inefficient and deteriorated water conveyance infrastructure, lack of drainage and land reclamation, flood control, inequity in water management, institutional incapability and inadequate investment in development and maintenance of water sector.

He said funds would be required for at least two additional dams, augmentation of existing storages and development of small and medium dams, modernization and repair of barrages, system improvement through remodelling, rehabilitation and lining of canals and water courses.

The Sindh government sought about Rs340bn funding for its infrastructure development, primarily in housing, water and sanitation and road network. The Balochistan government demanded about $1bn for improvement of its water facilities.