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The source said that the award of a fresh contract to an 'incompetent' CFO was earlier rejected by the NJHPP board, as the CFO lacked the required educational qualifications.
Neelum River, which is the main source of water for the residents of Muzaffarabad and adjoining areas, has shrunk significantly since the 969 megawatt NJHPP was launched in August 2018.
On the occasion of inauguration, PM while talking with reference to the NJHPP, the prime minister said the project was a big challenge for the present government when it came into power in 2013.
The CDWP earlier this month approved to conduct third-party validation of much trumpeted Neelum-Jhelum Hydropower Project (NJHPP) of 969 megawatt with another upward revised cost of Rs500 billion to ascertain value of money and causes of cost overrun.
Talking to reporter, Wapda sources said that with a power generation capacity of 969 megawatts, the first unit of NJHPP would start operation in February the next year, second in March 2018 and the third and 4th units would be ready for inauguration in April 2018.
Talking to reporter the sources said on Sunday that with a power generation capacity of 969 megawatts, the first unit of NJHPP would start operation in February next year, second in March 2018 and the third and 4th units would be ready for inauguration in April 2018.
Sukuk will be unlisted, privately placed having a tenor of 10 years (inclusive of a grace period of two years) and will be used to fund the NJHPP. Sukuk will have semi-annual principal and rental payments and draw down is planned in three tranches.
WAPDA has acquired 4342 acres for NJHPP and total amount paid/ transferred to AJandK for this purpose so far is Rs 1.477 billion.
Appreciating the performance of Chairman WAPDA, the Prime Minister expressed his satisfaction over the progress on NJHPP as well as Tarbela-4.
Neelum Jhelum Hydropower Project (NJHPP), a 969 MW project in Azad Jammu and Kashmir NJHPP will add around 5% to the country's total installed power generation capacity.
While approving the project, the Committee directed that the NJHPP related schemes of AJK be implemented at the earliest.
Abdul Majeed has said that government attaches great importance to Neelum-Jhelum Hydropower Project (NJHPP) as it will significantly reduce the looming energy crises in the country.
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