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PESHAWAR: The Policy Board of Pakhtunkhwa Energy Development Organization (PEDO) has accorded conditional approval for issuance of no objection certificate (NOC) to concerned construction companies for progress on development of 215MW Asrit-Kedam and 496MW Lower Sapat Gha hydropower projects.

"The approval was given in the light of recommendations of Evaluation Committee, while PEDO was also directed for fulfilling all formalities and strict implementation of the policy in vogue, sources privy to the meeting told here on Saturday.

The approval was accorded in 7th meeting of the Policy Board of the organization held here with Chief Minister Khyber Pakhtunkhwa Mahmood Khan in the chair.

Additional Chief Secretary Shakil Qadir, Secretary Energy & Power, Muhammad Zubair, Chief Executive Officer PEDO, Naeem Khan and other members of the Policy Board also attended the meeting.

Similarly, the Policy Board has also approved a business model for turning the organization into a self-sustainable and profitable body, and minimize its dependency on provincial government exchequer.

Under the business plan a workable strategy has been devised for PEDO for arranging funds for its upcoming projects through various sources.

Besides, taking other initiatives/interventions PEDO will be allowed to retain the profit of its completed hydro power projects and invest the same on new power projects in the province for a certain period.

In light of the endorsement of the concerned management committee, the policy Board allowed PEDO to proceed for hiring planning consultant for Khyber Pakhtunkhwa Hydropower and Renewable Energy Development.

Talking on the occasion, the CM termed the timely completion of all energy projects as one of the top priorities of his government and directed the high ups of PEDO to ensure physical progress on those projects as per the fix timelines. He termed the approval of business plan for PEDO as an important development and said that it would help a great deal to make PEDO a profitable body.

Copyright Business Recorder, 2021

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