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Upfront tariff for wind power projects extended by one year

Prime Minister Raja Pervez Ashraf has decided to extend the existing upfront tariff for wind power projects in Sindh, which expired on December 31, 2012, by another year.The Prime Minister was presiding over a high level meeting of the Sindh Board of Investment at the PM’s Secretariat on Tuesday afternoon.The meeting discussed in detail the progress made so far in setting up of thermal power plants with Thar Coal specification and utilization of wind corridor in Sindh for production of electricity.The Prime Minister said that the energy policy of the government aims at attracting potential investors in this sector to generate electricity so that gap between supply and demand can be reduced.The Prime Minister said that regulators should facilitate the investors so that they are encouraged to invest in this sector. Investors, he said are being offered attractive incentives by various countries and we have to compete with these countries to convince the investors to invest in Pakistan, he added.The Prime Minister said that government would have to adjust its policies to keep pace with dynamic changes to attract foreign investment in the country. The meeting was attended by Minister for Water and Power, Chaudhry Ahmed Mukhtar, Minister for Defence, Syed Naveed Qamar, Advisor to the Prime Minister on Petroleum and Natural Resources, Minister of State for Finance/Chairman BOI, Slaeem Mandviwala, Provincial Minister for Finance Sindh Murad Ali Shah and relevant officials of the Federal and Government of Sindh.

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