The documents will facilitate fast-track implementation of indigenous coal projects at Thar Sindh, Salt Range Punjab as well as imported coal projects.
“In order to develop the upcoming coal power projects on a fast track basis, it is important to prepare Security Package Agreements to enable companies to achieve financial closure expeditiously,” said Water and Power Secretary Mohammad Younas Dhaga, while presiding over the 99th meeting of PPIB Board.
The agreements include the Implementation Agreement (IA) and the Power Purchase Agreement. The documents have been prepared by PPIB after due consultations with the relevant government and private sector stakeholders, and the pertinent coal specific changes have been incorporated. After seeking comments from the related ministries and departments, it will be submitted to the ECC of the Cabinet for approval.
In order to facilitate the project sponsors to achieve a financial closure and move ahead with the construction activities, the Board has approved extension of Letter of Support for the 100MW Gulpur Hydropower Project to be located at Poonch River, District Kotli, Azad Jammu and Kashmir.
The Secretary said that the government was taking various initiatives to generate affordable energy to meet future requirements. Three-pronged strategy based on short-, mid- and long-term power generation projects has been devised on the directives of the Prime Minister Nawaz Sharif.
“China has also signed a number of agreements for development of power projects under Pak-China Economic Corridor programme,” said Dhaga.
Published in The Express Tribune, December 16th, 2014.
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