Khyber Pakhtunkhwa (KP) Energy Secretary Syed Imtiaz Hussain Shah Monday said that domestic and foreign investors at the Dubai expo showed great interest in the energy sector of the province.
The comments from the secretary came during his visit to the expo. Shah said that the provincial government was implementing investor-friendly policies and providing maximum facilities under one window operation to facilitate investments.
“As a result of these policies, various investors signed MoUs with the KP government for promotion of the energy sector,” he said. On the occasion, Pakhtunkhwa Energy Development Organisation (PEDO) Engineer Naeem Khan and KP Oil and Gas Company Chief Executive Nasir Khan were also present.
The secretary explained that the progress made on various projects serves to encourage foreign investment.
“The KP energy department has been generating Rs5-6 billion in revenue annually,” he said, adding that during the current fiscal year, the department would increase hydel power generation capacity from 161MW to 212MW which would help generate Rs10 billion in revenue.
Similarly, he said that PEDO was currently working on seven hydel power projects including 10.2MW Jabori Power Project, 11.8MW Karora, 40.0MW Koto, 84MW Matlatan, 69MW Lavi, 10.5MW Charkhel, and 5.6MW Baranda power projects.
“Additionally, work on the 300MW Balakot hydel power project would be initiated this year with the financial support of Asian Development Bank, while the World Bank would help in the construction of 88MW Kabral Kalam hydel power project and 157MW Madain hydel power project,” Shah explained.
The secretary further informed that the work on 197MW Kalam – Israit and 215 MW Israit – Kaedam hydel power project is being started in Swat on a public-private partnership model with the Korean government.
“In order to generate cheap electricity, the KP government has introduced a unique model and established its own grid company for the provision of electricity from new power projects,” the secretary said.