ISLAMABAD: Special Assistant to the Prime Minister on Foreign Affairs, Syed Tariq Fatemi, has voiced strong dissatisfaction over the failure of authorities—particularly the Power Division—to arrange a scheduled meeting between the NEPRA Chairman and a high-level delegation from Korea South-East Power Co. Ltd. (KOEN). The missed engagement has sparked serious concerns amid KOEN’s ongoing efforts to push its hydropower projects into Pakistan’s Indicative Generation Capacity Expansion Plan (IGCEP) 2025–35.
According to sources, Fatemi—who also plays a key role in foreign investment facilitation—formally conveyed his disappointment to all relevant ministries and agencies after the Korean delegation concluded multiple meetings with federal stakeholders, including the Power Division, Ministry of Foreign Affairs, and Special Investment Facilitation Council (SIFC), without interacting with NEPRA’s leadership.
KOEN, a state-owned company with a \$1 billion clean energy investment plan in Pakistan, highlighted persistent regulatory delays as a critical barrier to progress. Despite completing all policy milestones under the Power Generation Policy 2015, its two hydropower projects—229.4 MW Asrit-Kedam and 238 MW Kalam-Asrit—remain stalled due to NEPRA’s prolonged inaction on tariff petitions filed in 2022.
The Korean side emphasized that while the projects were optimized in IGCEP 2022–31, continued uncertainty over tariff determination undermines investor confidence. KOEN has already invested nearly \$20 million in feasibility studies, NOCs, and generation licenses.
To demonstrate flexibility, KOEN offered to revise the commercial operation timelines to align with Pakistan’s current power overcapacity—provided NEPRA fulfills its legal obligation to determine tariffs in accordance with Appellate Tribunal directives.
In a letter to Deputy Prime Minister and Foreign Minister Ishaq Dar, KOEN’s Branch Manager, Park Changhark, reaffirmed the company’s commitment to Pakistan’s renewable energy goals, citing its earlier success with the 102 MW Gulpur Hydropower Project as a model partnership.
Fatemi has since raised concerns over the lack of coordination and its implications for Pakistan’s credibility in handling foreign direct investment, urging immediate institutional alignment to avoid further reputational and economic setbacks.
Story by Mushtaq Ghumman
