PESHAWAR - Khyber Pakhtunkhwa Chief Minister Pervez Khattak has welcomed the Rs1.74 trillion Chinese investment in the power sector of the province.

The investment will be utilised to construct three hydel power generation projects with the capacity to generate 674 megawatt of electricity concentrated in Chitral, the establishment of grid stations at two sites after the laying down of high power 500 KVA transmission line to link the power stations right from Chitral to Chakdara. The investment offer was made by executives of the Chinese company, Sichuan CNNC Southwest New Energy Ltd, during a meeting with the KP chief minister at Chief Minister House Peshawar. Head of Strategic Support Unit Sahibzada Saeed, Secretary Energy Naeem Khan, CM’s Principal Secretary, Special Secretary to CM and other officials concerned attended the meeting.

The meeting finalised the prerequisites, the detailed estimation of these projects for submission by 30th of the current month. The chief minister directed that necessary documentation, detailed estimation and other allied steps should be taken so that the government could issue No Objection Certificate (NOC) to the Chinese company for the construction of power stations.

The three power stations included Toreen Morkari Power Station with the capacity to produce 350MW of electricity, Jaim Shull Toreen Mor Power Station with the capacity of 260MW of electricity and Mojigram Shaghoor Power Station with capacity of 64MW of electricity. The chief minister was informed by the company’s executives that they have done the preliminary work on these projects and the feasibility including the permission of Chinese government was in the process with the provincial government. Different meetings for different phases to fulfil certain responsibilities have already been finalised.

Khattak said that it was his government’s dynamic policy that led to the congenial environment both for the domestic and foreign investment in the province, adding that his province had emerged the most suitable destination for investment . He cited the reasons for the investment-friendly environment that included the exemplary law and order situation in the province and the corruption free institutionalised mechanism in the province.

Khattak said his government ensured investment facilitation mechanism for the promotion of trade and industry and the advantages of the province were the most alluring for investment . His government would also give guarantee to the investment flowing to his province, he assured. He said his government took care of the security of the investors and it also ensured a tripartite agreement that included the provincial government, the company concerned and the guarantee of the federal government. He further assured that the Nepra, which has the responsibility to fix tariff, would also cooperate in this regard. He reminded, he had already directed for agreements with top Chinese companies and fixation of tariff in projects of hydel power generation in the province. He had already approved the import of machinery etc in this regard. However, he made it clear that the resources should be efficiently utilised.

The chief minister directed the Energy Department to prepare feasibility of all projects of hydel power generation. The department should identify sites in all districts and prepare a plan for the hydel power projects there. He said the department must ensure the efficient use of resources in the projects in energy sector , adding that he was against the wastage of resources.