Working out modalities for return of at least two projects:

A day after Union Power Minister Piyush Goyal ruled out transferring power projects from the NHPC to Jammu and Kashmir, the state government today said it is working out modalities for the return of at least two such projects.
"The state government is working out modalities on how to get at least two power projects from NHPC.
Several discussions have taken place between the centre and J-K government on the issue and there is a broad-based consensus at the highest level," state finance minister Haseeb Drabu said here.
He said the transfer of power projects has been under discussion for the last decade or so and it has been backed by recommendations of the working groups appointed by the Prime Minister.

"The J-K government is working to evolve a model in which the power projects can be transferred without affecting the market value and shareholders of NHPC, a listed company which manages the projects in the state," he said.
The Finance Minister also said the state government has put the new industrial policy on hold following the directions of the Chief Minister Mehbooba Mufti and the policy would be revised in accordance with the special status of Jammu and Kashmir.

"I have been asked by the chief minister to address the concerns expressed by various stakeholders on the Industrial Policy and the upcoming budget will be industrial friendly which will help the local entrepreneurs and business.

"Following the directions of the Chief Minister, we are working on a comprehensive roadmap to be incorporated in the budget 2016-17 aimed at promoting and expanding the industrial activity in J-K in tune with the state's distinct features," he said.
The Finance Minister said the government would try to come up with some key measures in the budget for industrial development in conformity with J-K's development needs and socio-economic objectives.
"The government mulls measures aimed at improving the competitiveness and capabilities of local entrepreneurs and promoting structural transformation in the industrial sector," he said.
The government had envisaged a policy to hand over industrial estates to industry associations with a proper corporate governance structure, he said, adding "we need business bodies to augment the efforts of the state government so that we can expand the industrial landscape of the state".