SATURDAY JANUARY 07:More incentives for investors: power policy 2002 to be amended

ISLAMABAD: Private Power Infrastructure Board (PPIB) has decided to offer additional incentives to power sector investors for which Power Policy 2002 will be amended. The decision was taken at the 90th meeting of the PPIB, Board, presided over by the Minister for Water and Power, Syed Naveed Qamar here on Friday. These amendments will be submitted to the Council of Common Interests (CCI) before these are incorporated in the policy.
Naveed Qamar said the government is taking various steps to attract investment in the power sector and the amendments are being suggested in this regard. He said the government as per the policy intends to change the energy mix and focus on hydel, coal and alternative energy projects to generate cheaper electricity for consumers.
The Board was informed that a committee under the Secretary Water and Power with members from the Planning Commission, the Ministry of Petroleum, Pepco, PPIB and Chief Secretaries of the provinces and AJ&K is working to review the Power Policy 2002 and formulate and recommend amendments. The recommendations of the committee were circulated to the potential investors and lenders for comments and after incorporating their suggestions the amendments were put up to the Board of PPIB for approval and thereafter submission to the CCI.
The Board also reviewed progress of all the private power projects. PPIB Managing Director N A Zuberi gave a briefing on various ongoing activities/initiatives being undertaken by PPIB. According to him as per policy of the government to improve the thermal/hydel mix and to achieve this objective, PPIB has been actively working on development of hydropower projects in the private sector. PPIB has recently issued Letters of Support to three hydropower projects ie 840 MW Suki Kinari, 100 MW Kotli and 100 MW Gulpur Hydropower projects. 150 MW Patrind Hydropower Project has signed financing documents with ADB, IDB, and Korean Exim bank and has started construction activities on site. For Suki Kinari Hydropower Project, implementation, power purchase and water use agreements have been finalised.
The meeting was attended by senior government officials from the Ministry of Finance, the Federal Board of Revenue, Planning Commission, the Ministry of Petroleum and Natural Resources, Chairman Wapda, Managing Director PPIB, private sector member, provincial representatives from Punjab, Sindh, Khyber Pakhtunkhawa, Balochistan and Azad Jammu & Kashmir besides Directors of PPIB.