Excelsior Correspondent
SRINAGAR, Oct 11: The State Government has decided to raise the issue of buying back the power projects run by National Hydroelectric Power Corporation (NHPC) directly with Prime Minister, Dr. Manmohan Singh.
Replying to the discussion on a bill that seeks to amend the Jammu and Kashmir Water Resources (Regulation and Management) (Amendment) Bill, 2012 in the Legislative Council, Public Health Engineering (PHE) Minister, Taj Mohi-ud-Din said that the issue of buying back the NHPC projects would be taken up with the Prime Minister so that the process of return is given a fillip.
“During a meeting, former Union Power Minister Sushil Kumar Shinde told me to take up the issue of buying back the NHPC power projects with the Prime Minister. We could not do it earlier as we had sought legal opinion as how to go about the issue,” said Taj.
He said that revenue of Rs 1100 crore has been generated on account of water usage charges adding that Rs 750 crore have been received so far. He said the rest Rs 350 crore are lying with Power Development Corporation. He said the amendments in the bill have been made to ensure that the amount received on account of water usage charges are spent in the right direction.
“We have been able to raise equity of Rs 1700 crore and this amount would be used for the setting up of new hydro-power projects. This would mean that 2,500 megawatts of power would be added to the overall generation of the State over the next two and half years. Today with money in hand we can buy back the NHPC power projects at their depreciated cost,” said Taj.
He said that the Salal Hydroelectric Power Project can be bought at a depreciated cost of Rs 460 crore. He said the inherent provisions have clearly stated that the State can buy back the Uri-I power project at a depreciated cost anytime when it has the money in the kitty.
“Bills worth Rs. 450 crore have been sent to NHPC on September 30 and these have to be paid within 15 days. It is the endeavour of the State Government to make the State rich in power and this is possible only when we receive charges on account of water usage. The addition of 2500 megawatts would be a great achievement and many more good things are expected,” said Taj.
Taj said that the revenue earned on account of water usage charges would be spent on the construction of new hydro-electric power projects. He said the Government wants that the people who use the water for commercial purposes should be charged so that more and more revenue is added to the Government kitty.
The bill was later passed by the House.
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