ISLAMABAD (APP) - The financial proposals of bids received for fast track rental power projects to be commissioned by end of 2009 were opened on Monday. The bids were opened in a meeting held on Monday at Private Power and Infrastructure Board (PPIB) chaired by the Managing Director PPIB Fayyaz Elahi,and attended by all directors, the responsive bidder and members of the evaluation committee as per 2005 government tariff guidelines. The bid evaluation committee has recommended two bids included Gulf Rental Power (80.5 MW) and Independent Power Pvt Ltd (220.9MW), as responsive in accordance with the evaluation criteria. The read out tariff of Gul Rental Power and Independent Power Pvt Ltd is US$ 16.3724/Kwh and US$ 18.8824/Kwh respectively while the term of the tariff for both these projects is 60 months each. However the tariff will be reviewed by the bid evaluation committee and the successful bidder will be notified within a week. In order to address the immediate power shortfall in the country, the government approved its 'fast track private projects' initiative which was advertised on September 26, 2008 on the basis of International Competitive Bidding. Three bids for establishing rental power projects of around 500 MW cumulative power generation capacity were received within the bid submission deadline, and the technical and qualification bids were opened on October 30,2008 in the presence of all stakeholders and the media. Minister for Water and Power Raja Pervez Ashraf conveyed the investors in the ceremony that a bid evaluation committee comprising of members from PPIB, NEPRA, WAPDA/NTDC and Finance Division will review the technical proposals according to the predefined criteria, and the financial proposals of the bids will be opened at an early date. He also conveyed that the government is taking all measures to get rid of the menace of load shedding in the country and assured that all assistance will be provided to the investors for establishing power plants in the country.