ISLAMABAD (APP) - The financial proposals of bids received for fast track Independent Power Producers (IPPs) to be commissioned during 2010-2011 were opened on Wednesday. The bids were opened in a meeting held at Private Power and Infrastructure Board (PPIB) chaired by the Managing Director PPIB Fayyaz Elahi, and attended by all Directors of PPIB, the responsive bidders, and members of the evaluation committee as per 2005 Government of Pakistan Tariff Guidelines. The bid evaluation committee had earlier declared three bids included 627 MW Engro Power Gen (Pvt) Limited, 171 MW Saba Generation (Pvt) Ltd., and 172 MW Reshma Power Generation, as responsive after evaluation of envelope-I (Technical/Financial qualification). The read out levelized tariff of Engro Power Gen (Pvt) Ltd, Reshma Power Generation, and Saba Generation (Pvt) Ltd is US 14.7068/kWh, US 16.2651/kWh, and US 15.1352/kWh respectively. The tariff will now be evaluated by the bid evaluation committee and the successful bidders will be notified after approval of the tariffs by GOP. In order to address the immediate power shortfall in the country, the government approved its fast track private power projects initiative which was advertised on September 26, 2008 on the basis of international competitive bidding. Three bids for establishing fast track IPP projects of 970 MW cumulative power generation capacity were received within the bid submission deadline, and the technical and financial qualifications envelopes were opened on January 26, 2009 in the presence of all stakeholders and senior officials of PPIB. Fayyaz Elahi said that the government is taking all measures to remove the generation capacity demand and supply gap in the country and assured that all assistance will be provided to the investors for establishing power plants in the country. He expressed the hope that the investors will ensure completion of the projects as per required deadlines to commission the projects.