PESHAWAR, April 1: The NWFP government has decided in principle to establish the Malakand-III Hydel Power Project with its own resources and utilize the project for the industrial development of the province.

This was stated by NWFP Governor Iftikhar Hussain Shah while attending a briefing given by a private concern M/s Tahir Abbas on hydel power generation here on Monday.

The governor said there was a vast potential for hydel power generation in the province and feasibility reports of a number of projects had already been completed. He said that the provincial government would welcome the entrepreneurs to exploit the vast potential to make best utilization of this natural resource.

Similarly, he said, the government could also consider having joint ventures with private sector to materialize some other projects. Besides this, he said, the provincial government was also seriously considering finalizing the Pehur Hydel Power Project having a production capacity of 12 megawatt. The project is situated closely to the Gadoon Industrial Estate.

As far as the SHYDO is concerned, the governor said, its role had been restricted to policy-making and regulatory function.

However, he said, an effective mechanism had also been created to supervise and monitor as well as to look after the construction work of the proposed hydel power projects in the province.

Earlier, M/s Tahir Abbas while briefing the governor said that the water resource followed by agriculture and tourism had a great attraction for investors. He said they enjoyed the support of investors who wanted to invest in the hydel power generation sector in the province.

He thanked the governor for taking keen interest in this connection.

Provincial Finance Minister Farid Rehman, Chief Secretary Shakil Durrani, ACS Bashir Jehangir, Finance Secretary Wajid Rana, Secretary Irrigation Fazal Abbas Makan and MD SHYDO Mohammad Younus Marwat were also present on the occasion.