Message from MD PPIB

I feel immense pleasure to see the completion of two years of reliable supply of clean and cheap electricity to the national grid by 84 MW New Bong Escape Hydropower Project (NBE HPP) located at Mirpur. Azad Jammu & Kashmir by Laraib Energy Limited. New
Bong the 1st and so far the only private sector run-off-the-river hydropower IPP completed in Pakistan and AJ&K is one of the hallmarks of success of PPIB and the GOP's policy to attract private investment in hydropower. The project was completed on 23rd March 2013, Pakistan Day, celebrated with zeal and fervour in commemoration of the Lahore Resolution of 1940. Later the project was formerly inaugurated by the Honourable Prime Minister of Pakistan Mian Muhammad Nawaz Sharif on 15th July 2013.
My heartiest congratulations to HUBCO the main sponsor of the project and has a long time presence in Pakistan, being the pioneers of private power in the country by commissioning of 1292 MW Thermal Power Plant in 1997. The contribution of lenders to NBE HPP which include ADB, IDB, IFC, Proparco HBL & NBP are equally commendable for placing full confidence in the power sector of Pakistan. Since commissioning, the Project is not only providing upto 90 MW clean and cheap electricity but has also contributed in the economic development of the surrounding locality, has generated employment opportunities, and been instrumental in uplifting social activities in the area.
PPIB in line with the GoP's policies and under the guidance of the Ministry of Water and Power is striving hard to materialize country's natural resources like hydel and coal to bring in cheap electricity and minimize burden on national grid as well as on the exchequer which is spending heavy amounts on import of oil. It is a known fact that hydropower potential of 60,000MW, while coal reserves of 185 billion tons are more than enough to fulfil our electricity requirements for many decades.
PPIB holds excellent track record of attracting huge foreign direct investment in the power sector of the country which the international community and various multinational entities have acknowledged time and again. Under 1994 and 2002 power policies, thirty one (31) IPPs of more than 9000 MW have been established so far with an investment outlay of more than USS 10 billion. The voyage of injecting additional MWs in the national grid is not over yet, rather PPLB is expeditiously processing another twenty six (26) hydel and coal based IPPs of more than 20,000 MW which are at different stages of development and will come online as per given timelines.
I once again congratulate the management of the company and wish best of luck for New Bong Escape Hydropower Project for its successful operation in coming years and expect more investments from them and other investors in the power sector as well.