Last Updated on September 7, 2021 at 5:57 pm
There have been heavy power losses in Jammu and Kashmir which has reached to the whopping amount of Rs 4000 crore per year. Thus, Lieutenant Governor Manoj Sinha had directed the Power Development Department to reduce deficit by 10 percent within the next three months.
As per reports, due to the gap between electricity purchase bill and revenue generation J&K is suffering heavy losses. The government has to purchase electricity worth Rs 6500-6600 crore every year but government is generating revenue of only Rs 2600 crore against this.
The government signed a Memorandum of Understanding (MoU) with the National Hydro-electric Power Corporation (NHPC) on the Sawalakote power project. It is being constructed since 1984 but still not completed and now the government is confident that it will be completed in the next five years.
According to the reports, whatever power generation capacity was built in the last 70 years, the government will be doubling it in five years. It will be producing electricity of 3,400 MWs capacity in 4-5 years. The hydropower is not reliable during peak hours so the UT needs alternate sources of energy. The government has signed MoUs for solar power.
As against Rs 28,400 crore worth investments and generation of 4-5 lakh jobs anticipated initially under the new Industrial Policy, the government is now targeting Rs 50,000 crore worth investments and around 10 lakh jobs.
Big industrial houses have been showing their interest in investing in J&K. Also there will be no tolerance towards any kind of anti-national activities by the government reportedly.
