PESHAWAR: The Policy Board of Pakhtunkhwa Energy Development Organization (PEDO) has approved business model for turning the organization into a self-sustainable and profitable body, and minimize its dependency on provincial government exchequer.
The 7th meeting of the Policy Board was held here on Friday with Chief Minister Khyber Pakhtunkhwa Mahmood Khan in the chair.
Additional Chief Secretary Shakil Qadir, Secretary Energy & Power, Muhammad Zubair, Chief Executive Officer PEDO, Naeem Khan and other members of the policy board attended the meeting.
Under the business plan a workable strategy has been devised for PEDO for arranging funds for its upcoming projects through various sources.
Besides, taking other initiatives/interventions PEDO will be allowed to retain the profit of its completed hydro power projects and invest the same on new power projects in the province for a certain period.
In the light of recommendations of Evaluation Committee of PEDO, the policy board also accorded conditional approval for issuance of NOCs to the concerned construction companies for progress on the development of 215 MW Asrit-Kedam Hydro Power and 496 MW lower Sapat Gha Hydro power projects directing PEDO to fulfill all the codal formalities and strictly implement the policy in vogue in this regard.
In light of the endorsement of the concerned management committee, the policy Board allowed PEDO to proceed for hiring planning consultant for Khyber Pakhtunkhwa Hydropower and Renewable Energy Development.
Talking on the occasion, the Chief Minister termed the timely completion of all energy projects as one of the top priorities of his government and directed the high ups of PEDO to ensure physical progress on those projects as per the fix timelines.
He termed the approval of business plan for PEDO as an important development and said that it would help a great deal to make PEDO a profitable body.