HDF Board Accords Approval To Business Model For Energy Projects

HDF Board accords approval to business model for energy projects

Hydel Development Fund Board on Saturday approved business model for the funding of ongoing and news projects besides giving go ahead for the financial audit of the fund by a well reputed firm

PESHAWAR, (UrduPoint / Pakistan Point News - 17th Jul, 2021 ) :Hydel Development Fund Board on Saturday approved business model for the funding of ongoing and news projects besides giving go ahead for the financial audit of the fund by a well reputed firm.

The approval was given in 15th meeting of Hydel Development Fund Board was held here the other day with Chief Minister Khyber Pakhtunkhwa Mahmood Khan in the chair, said an official handout.

Besides, Provincial Minister for Finance Taimur Saleem Jhagra and Principal Secretary to Chief Minister Amjad Ali Khan, concerned administrative secretaries and members of the board attended the meeting.

The meeting reviewed in detail progress on implementation of the decisions taken in the last board meeting and approved the estimated budget for the financial year 2021-22 for the new and ongoing projects being executed by Pakhtunkhwa Energy Development Organization (PEDO).

The estimated budget for 20 ongoing and 19 new schemes was proposed @ Rs. 20.00 billion.

The meeting was informed that annual accounts of Hydel Development Fund have also been prepared for the financial year 2020-21 adding that the fund has generated a profit of Rs 879.

461 million during the said financial year.

The chief minister on this occasion directed the authorities of PEDO to expedite work on ongoing energy projects and take concrete steps for initiating physical work on new projects well in time.

He also directed the authorities concerned to expedite work on the purchase of land for Balakot and Kalam-Gabral Hydro power projects so as to start physical work on the said projects within stipulated time frames.

The chief minister said that current financial year was of vital importance for the execution of development projects in pipeline and the provincial government wanted to see physical progress on the development projects adding that the completion of due for completion projects was top most priority of the incumbent government so that public could benefit from those projects without any delay.

The chief minister also directed the authorities of PEDO to submit a detailed progress report on the ongoing energy projects especially micro hydro power projects within a period of one week.