Jammu and Kashmir government has said it is working out modalities with the Centre for return of two power projects from NHPC to the state.
"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 Jammu and Kashmir government on the issue and there is a broad-based consensus at the highest level," state Finance Minister Haseeb Drabu said yesterday.
Drabu's statement came a day after Union Power Minister Piyush Goyal ruled out transfer of any power projects from NHPC, or increasing the revenue share in these projects, to Jammu and Kashmir.
Drabu 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 as well as PM's high level task force on Jammu and Kashmir headed by former RBI Governor C Rangarajan.
He said 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.
The return of power projects to the state is part of the 'Agenda of Alliance' agreed upon by PDP and BJP ahead of the formation of a coalition government in the state in early 2015.
The issue had again figured prominently during the stalemate over fresh government formation following the death of then chief minister Mufti Mohammad Sayeed in January this year.
Present Chief Minister Mehbooba Mufti took office only after meeting Prime Minister Narendra Modi in March this year.
