Official sources told APP here Thursday that the Economic Coordination Committee (ECC) has also approved last week in principle financing facility of Rs 17 billion from local banks for the laying of 500 KV double circuit transmission line from Neelum Jhelum Hydro Power Plant to Gujranwala.
However, they said that it would be subject to approval of terms and conditions of borrowing by the Ministry of Finance.
As National Transmission and Despatch Company Limited (NTDCL) is implementing the project through its own resources, the local banks have also shown their willingness to provide funding against sovereign guarantee by the Government.
It is pertinent to mention here that first unit of 969 MW Neelum Jhelum Hydro Power Project will be operative by December 2015 for which NTDCL has to complete the priority portion of transmission line on or before September 30, 2015 for evacuation of power from the project.
Meanwhile, the committee formed under the chairmanship of Minister for Planning and Development Ahsan Iqbal was also directed to expedite work on National Energy Plan and to submit its report within the time period of two months as promised by the committee on its inception.