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| July 4, 2003 | Friday | Jumadi-ul-Awwal 3,1424 |
Enercon earmarks Rs150m for setting up tune-up centres
ISLAMABAD, July 3: The National Energy Conservation Centre (Enercon) has earmarked Rs150 million for lending to private sector for establishing computerized automobile tune-up centres in the country.
The decision was taken at the Enercon Board of Directors meeting held here on Thursday. Minister of State for Environment Tahir Iqbal who is also chairman of the board presided over the meeting.
It was decided that besides setting up new centres, the allocated amount would also be spent on upgradation of technology component of the existing equipment at the centres.
The BoD also decided that the loans would be available to private sector entrepreneurs through designated financial institutions and banks at low mark up rate.
“The ministry of environment will be extending resources and services to the industrial consumers from the Energy Conservation Fund (ECF) for improving their fuel efficiency,” the minister said while speaking at the annual meeting.
He said the Energy Conservation Fund would be utilized to improve the efficiency of the automobile sector for conservation of fuel energy and reduction of air pollution.
“Credit will also be extended to the industrial units to help them install energy efficient equipment and reduce the green house gases,” he added.
The ECF has been set up under the fuel efficiency road transport project as a non-profit company for extending credit line to automobile dealers, individual entrepreneurs, workshop owners and fuel retail outlets to purchase state-of-the-art tune- up equipment for enhancing fuel efficiency of automobiles.
A project tilted ‘conservation power factor improvement project (CPFIP)’ was also approved in the meeting for funding by ECF.
Under this project, about 40 industrial establishments will be provided credit for installation of power factor improvement capacitors on their premises, at a total cost of Rs4.80 million.
Criteria for selection of the financial institutions (banks, leasing companies) was also finalized to disburse the funds for installation of capacitors that would improve the efficiency of the utilization of power in any electoral power system.
It was decided to advance loans for adoption of new technologies in the field of energy conservation having a direct bearing on environmental issues.
The ECF has also approved a variety of new technologies existing in the developed world, like dynamometers, dynamic testing of vehicles for their emission and power out put in addition to other safety aspects pertaining to motor vehicle examination.
Enercon will implement this project on behalf of ECF to ensure quality control. Payback period for this project is expected to be not more then 18 months.
The project will be implemented on full cost recovery basis so that the benefits will continue to positively affect a large number of industrial units in the country.
The ECF board will hold quarterly meeting in order to monitor the loans disbursement process and implementation of its projects.—APP
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