ISLAMABAD: The government has merged Alternative Energy Development Board (AEDB) with the Private Power and Infrastructure Board (PPIB) after final approval of amendments already cleared by the parliament aimed at providing one-window facility to investors.
According to the PPIB, upon promulgation of the Private Power and Infrastructure Board (Amendment) Act, 2023 notified through the Gazette of Pakistan, Extraordinary, Part-1, as an Act No XXVI of 2023 of June 10, 2023, the AEDB has been merged with the PPIB; consequently, the Alternative Energy Development Board Act, 2010 (Act XIV of 2010) stands repealed/ dissolved, henceforth.
“We are confident that this merger will pave the way to enhance operational efficiency and facilitation of investors by extending a true one-window facility for smooth and seamless development and processing of power projects of all technologies including Alternative and Renewable Energy (ARE) projects by PPIB as one entity on behalf of the Government of Pakistan,” aid the PPIB in a statement on Monday.
PPIB Managing Director Shah Jahan Mirza, who was also acting as the chief executive officer (CEO) of AEDB, in a statement stated that the whole team is excited to take fresh responsibility as a challenge for achieving new horizons of excellence and fully poised to harness the indigenous, alternative and renewable potential of the country for powering Pakistan with clean, green and sustainable electricity.
The merger of the AEDB into the PPIB will not only pave the way for smooth and seamless development and processing of power projects of all technologies including ARE projects but it will also ensure operational efficiency and facilitate investors by extending a true one-window for all technologies.
According to the Power Division, it is felt that the AEDB merged into the PPIB, which has been in existence since 1994 and has therefore, developed the requisite skill set and ability, to act as a one-window facility for all segments of the energy sector.
Copyright Business Recorder, 2023