State Hydel Policy to be revised to attract investors

Stresses on completion of power projects on time  
Identifying the huge potential of J&K in hydro-electric power generation, Chief Minister Mr. Omar Abdullah Wednesday said the State Hydel Policy will be revised to attract investment in power sector. He called for better coordination between different agencies for completion of all power projects in a time-bound manner. 
The Chief Minister said this while chairing a high-level meeting to discuss issues related to Independent Power Producers (IPP), here today. 
Yesterday, the Chief Minister had reduced timeframe for completion of all ongoing projects by one year and stressed the need for indigenous power generation to meet the requirements of the State.  
Financial Commissioner, Planning and Development, Mr. S. L. Bhat, Commissioner/Secretary, Finance, Mr. Sudhanshu Pandey and Managing Director, Power Development Corporation, Mr. Bipul Pathak attended today’s meeting. 
Speaking on the occasion, Mr. Abdullah said the State Hydel Policy of 2003 will be revised and made progressive in view of the future requirements of power development in the State. 
Later, the Chief Minister was informed that some of the projects under IPP Phase-1, are awaiting Indus Water Treaty clearances. 
During the meeting, it was decided that Power Development Department will initiate process for drawing up Wheeling and Banking Agreement as well as Power Purchase Agreement with the developer in case of Athwatoo Hydel Project in Bandipora district after remaining clearances are obtained.  

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