Srinagar: Chairman PHD Chamber Kashmir Mr Baldev Singh Raina and Mentor PHDCCI Kashmir Mushtaq Ahamd Chaya in a press statement today thanked and Prime Minister and Lieutenant Governor Manoj Sinha for approving and clearing the 850 MW Ratle Hydropower project after a hiatus of more than seven years.
Mr Raina further stated that the electricity consumption was one of the most important indices that decides the development level of a nation. The Government of India is committed to improving the quality of life of citizens of J&K through higher electricity consumption, he said.
“Jammu & Kashmir being situated in the northernmost part of India has significant hydropower potential for development due to its predominantly mountainous terrain. The J&K is one of the popular global tourist destinations in the country. However, slow pace of economic development from past several years has hindered its growth story”, he said.
“Access to electricity, being a major factor for economic development, will be a stepping stone in its journey towards economic progress. Power is a key source of economic growth and Power Production Capacity is one of the most important inputs for economic development of any region and for industrial growth so these projects would facilitate rapid economic development of the state in primary, secondary & tertiary sectors resulting in inclusive development”, PHD chamber said.
“The PHD Chamber complement the efforts of the Government of Jammu and Kashmir for paving way and making unprecedented efforts for providing uninterrupted quality power to each household, industry, commercial business, small & medium enterprise and adequate power to agriculture consumers”, Mr Baldev further said.