KP to ink MoU with Chinese firm for two hydro power projects

KP to ink MoU with Chinese firm for two hydro power projects

PESHAWAR: (APP) Chief Minister Khyber Pakhtunkhwa Pervez Khattak Wednesday said that the provincial government would sign an MoU for two combined hydro power projects with SINO hydro company China for the production of 610 mega watt of electricity on March 31st.

He was presiding over a high level meeting here at CM House.

Provincial Minister for Education & Energy Muhammad Atif Khan, Administrative secretaries and other high ranking officials were also present.

The meeting had a detailed discussion on different projects, the provincial government was executing in the foreseeable future.

Chief Minister in his remarks said that different clusters of 100 projects in various departments have been finalized as China Pakistan Economic Corridor (CPEC) and Non CPEC projects for onward marketing into the Beijing Road Show.

Regarding the public private partnership projects, the Chief Minister argued, his government has eased out different complications in the IPPs, adding that there are different elements rendering the developmental strategy slower that included the wastage of time and resources, the cost escalation, unnecessary litigation, lake of transparency, corrupt practices that delay the timely completion of developmental schemes.

IPPs was otherwise the best approach for transparency and quality in the developmental strategy, therefore the existing complications within the IPPs were taken care of and the targets became achievable that was the essence of his government policy , he added.

Regarding the standard guidelines of the MoUs for the projects of different departments, the Chief Minister remarked his government wanted the movement of the Frontier Works Organization on different projects at fast track as assured by the FWO. The organization had some milestones to achieve as per our expectations so that the public welfare schemes reached its completion within the time tag.

The Chief Minister said that the dynamics of economy had changed and his government had a policy and guideline giving one window operation for investment facilitation in the province. This facilitation was based on first come first serve basis adding that time was the basic elements in trade and economy and timely decision making was very much important.

He said his government eliminated corruption that was the main reason, the foreign investors were landing in the province. He had interacted with more than top 20 investors of China who knew the tricks of business, he added.

He said his government has already tracked the province towards expeditious development adding that transparent governance and eliminating corruption were impossible in the past but his government made it possible.