ISLAMABAD             -      The Economic Coordination Committee (ECC) of the Cabinet has approved revised standard security package documents such as implementation agreements (GOPIA), GOP guarantee, power purchase agreement (PPA), water use agreement (WUA) under Policy for Power Generation Projects 2002 for the hydropower projects in the private sector.

The ECC meeting, chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh, also decided in favour of removal/reduction of regulatory duty on the smuggling prone items, including fabric, sanitary ware, LED/TVs, padlocks, blankets, electorodes etc.

The Security Package Documents for China Pakistan Economic Corridor (CPEC) Hydropower Projects includes power purchase agreement, water utilization charges and implementation agreement. The decision would bolster confidence of the investors and fast track completion of hydropower projects. This will help in mitigating protracted negotiations with the private investor thus paving way for smooth and timely implementation of hydropower projects.

The Board of Private Power and Infrastructure Board (PPIB) on June 19 had approved “Standardized Security Package Documents for Hydropower Projects” for submission 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. 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.

Meanwhile, the ECC also took up five proposals for technical supplementary grants and approved them all, including Rs 4.313 billion TSG for employee related expenditure by the Interior Division, Rs 900 million TSG for adjusting pays and allowances of the employees of National Commission for Human Development, Rs 52.70 million TSG for necessary expenditure by the Revenue Division, Rs 39.22 million TSG for the necessary expenditure by the Pakistan Rangers and Rs 18.53 million TSG for the Islamabad administration for taking measures to control and fight the COVID-19 pandemic in the federal capital.