ISLAMABAD - The government on Friday decided to seek the ECC approval for Standardized Security Package Docu­ments for CPEC Hydropower Projects.

The Board of Private Power and Infrastructure Board (PPIB) in its 128th meeting, held under the Min­ister for Power Omar Ayub Khan, approved “Standard­ized Security Package Documents for Hydropower Projects” for submission to ECC for final approval.

The Security Package Documents for China Paki­stan Economic Corridor (CPEC) Hydropower Pro­jects includes Power purchase agreement, Water utilization charges and implementation agreement, official source told The Nation. The decision, if ap­proved, will bolster confidence of the investors and fast track completion of hydropower projects.

Meanwhile, an official spokesman said that efforts for progressing the CPEC based hydropower gener­ation in the country got a major push after the PPIB recommended the approval of Standardized Security Package Documents for Hydropower Projects to ECC for final approval.

The documents have been prepared by PPIB with the consultation of federal and provincial stakehold­ers to cater for institutional requirements at federal as well as provincial and AJ&K level.

This will help in mitigating protracted negotiations with the private investor paving the way for smooth and timely implementation of hydropower projects. With the approval of these documents from ECC, the specific agreements of 1,124 MW Kohala and 700 MW Azad Pattan Hydropower Projects will stand ap­proved for execution.

The Minister, appreciating the development, said that the government is doing every effort for attracting foreign direct investment in the country and today’s accomplishment is a latest example of government’s commitment to improve power supply in the country.

With the implementation of these two major hy­dropower projects under CPEC, more than 8,400 GWh of clean and green energy would be added to the national grid every year.

The Minister said that the present government is reducing red tapism to fully facilitate the investors for availing the variables of growth and better re­turns which are available in the energy sector.