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Govt working out modalities for return of two power projects from NHPC: Drabu 5/21/2016 10:54:10 PM Early Times Report Srinagar, May 21: Minister of Finance, Culture and Labour & Employment, Dr Haseeb Drabu, Saturday said the state government is working out modalities with the Government of India for the return of two power projects from NHPC. "The state government is working out modalities on how to get at least two power projects from NHPC. Several discussions have taken place between GoI and J&K government on the issue and there is a broad-based consensus at the highest level," Dr Drabu said. The Finance Minister said the transfer of power projects has been under discussion for the last decade or so and it has been backed by recommendations of the Working Groups appointed by the Prime Minister as well as PM's high level task force on J&K headed by former RBI Governor Dr C Rangarajan. He said the J&K government is working to evolve a model in which the power projects can be transferred without affecting the market value and shareholders of NHPC, a listed company which manages the projects in the state. Ahead of the J&K Assembly Budget Session 2016-17, Dr Drabu held a series of marathon meetings with the representatives of business bodies of Jammu and Kashmir at civil secretariat here. The Finance Minister said the state government has put the New Industrial Policy on hold following the directions of the Chief Minister Ms Mehbooba Mufti and the policy will be revised in accordance with the special status of Jammu and Kashmir. "I have been asked by the Chief Minister to address the concerns expressed by various stakeholders on the Industrial Policy and the upcoming Budget will be industry and trade- friendly which will help the local entrepreneurs and business peoples," Finance Minister Mr Drabu said. The meetings were attended by Commissioner Secretary (Finance), Navin K Choudhary, Director General Budget, M Ishaq Wani and other officers of the finance department.   Share This News with Your Friends on Social Network     Comment on this Story

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