Peshawar: The Khyber Pakhtunkhwa (KP) Hydel Development Fund on Saturday approved PKR 20 billion funds for 19 new projects and 20 ongoing schemes in the energy sector, according to media reports.
During the 15th board meeting, Chief Minister Mahmood Khan decided to approve the fund. Minister of Finance Taimur Saleem Jhagra, also attended the meeting. During the meeting, the progress details for implementing the previous meeting’s decisions were discussed. Additionally, funds were approved for the projects being carried out by the Pakhtunkhwa Energy Development Organization (PEDO).
It was informed that the authority approved the business model for funding as well as the financial audit of the fund by a well-known firm.
Furthermore, the chief minister ordered PEDO to expedite work on current projects and to take the necessary steps to start work on new projects. Chief Minister Mahmood Khan has directed the relevant authorities to accelerate the purchase of land for the Kalam-Garbal and Balakot hydropower projects so that construction may begin as soon as possible.
In addition, the minister has directed the PEDO authorities to submit an in-depth progress report on current energy projects within the week.