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| New ‘power sharing’ era begins | | J&K, NHPC in 49:51 equity pact on new 1220 MW projects | | Early Times Reporter
Jammu | May 14
Scripting a new era of cooperation in construction of projects, power generation and sales, the Jammu and Kashmir government has entered into a unique pact with the central government which puts both parties in a win-win situation.
Under new arrangement which is a test case for some projects in Doda district, the Jammu and Kashmir government and the Center government owned National Hydro-electric Project Corporation will have an equity share ratio of 49:51 respectively. A decision to this effect was taken in a meeting between the Union Minister of State for Power Jairam Ramesh and J&K Minister of State for Power Babu Singh.
According to the official sources, the state government and NHPC has formally agreed upon the equity share in respect of three major power projects coming up on the River Chinab and a draft MoU will be forwarded to the state for its cabinet approval in next couple of weeks. A decision has been taken to float a corporations and with name as Chinab Valley Corporation with its chairman from Jammu and Kashmir. As per the details of the meeting the Jammu and Kashmir government and NHPC have agreed upon the ratio of equity share in case f the power sharing and employment. In power sharing the equity share as per meeting will be 49:51 i.e. 49 percent to state and 51 percent to NHPC while in case of employment the sharing ratio will remain 80:20 in class IVth employees and in middle and top class posts it will remain 49:51. Besides this the NHPC will give 12% free power to the state and the same will be in addition to the equity share.
The Minister after taking tough stand over the issue of employment ratio the central government agreed that the ratio demanded by the state government will be considered as final.
Singh during the meeting suggested various measures to be taken for the generation of the power in the state and complimented the centre government and NHPC for complet6ion of NHPC power project.
The minister in a statement issued here today said after Dul hasti three more power projects are coming up which will include Pakal Dul with the capacity of 100 MW, Keru 600 MW and Kawar with the capacity of 520 MW the decision to this effect was taken in a meeting held here.
The meeting also discussed the bridge loan case from Power Finance corporation worth 200 crore for the Bhagliar power project which was sanctioned and the same will be released shortly so that the project could be completed shortly.
A draft of the MoU with retard top the equity share between NHPC and state government will be forwarded to the Chief Minister Sh. Ghulam Nabi Azad and the same will be put before the state cabinet for its approval.
Babu Singh informed the meeting that the state government was very keen to increase power generation capacity of the state as the Chief Minister Mr. Ghulam Nabi Azad was taking his personal interest for exploiting the power projects of the state. An amount of 670 crore central assistance for the Bhagliar was also discussed and Babu Singh urges the Union Power ministry to speed up the process so that the under construction Bhagliar power project could be completed in time.
Singh also discussed the power reforms the state was taking in Jammu and Kashmir for the modification of transmission and distribution system. Babu also informed the meeting that privatization of power distribution in the state. He also said that the state Power Development Corporation would also be reconcstructed and remoulded so that the main focus of making state self sufficient in power generation. |
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