Hydel Development Fund Ordinance, 2001.
Download FeedBackDepartment: | Finance Department | ||
---|---|---|---|
Main Category: | Ordinance | ||
Specific Category Name: | Hydel | ||
Year | 2001 | ||
Promulgation Date: | 02-10-2001 | ||
Details: | THE [1][KHYBER PAKHTUNKHWA] HYDEL
DEVELOPMENT [2][KHYBER PAKHTUNKHWA] ORDINANCE
NO. XXVI OF 2001. CONTENTS PREAMBLE SECTIONS 1. Short
title and commencement. 2. Definitions. 3. Establishment of
the Fund. 4. Constitution of the Board. 5. Functions
and powers of the Board. 6. Submission of projects and schemes to
the Board. 7. Accounts and audit. 8. Power
to make rules. THE [3][KHYBER PAKHTUNKHWA] HYDEL
DEVELOPMENT FUND ORDINANCE, 2001. [4][KHYBER PAKHTUNKHWA] ORDINANCE
NO. XXVI OF 2001. [2nd October, 2001.] AN ORDINANCE to provide for the
establishment of a fund for the development of hydel electricity in the [5][Khyber
Pakhtunkhwa]. WHEREAS it is expedient to provide for the establishment of a fund
for the development of hydel electricity in the [6][Khyber
Pakhtunkhwa] in the manner hereinafter appearing; AND WHEREAS the Governor of the [7][Khyber
Pakhtunkhwa] is satisfied that circumstances exist
which render it necessary to take immediate action; NOW, THEREFORE, in pursuance of the Proclamation of Emergency of
the fourteenth day of October, 1999, as amended uptodate, and the Provisional
Constitution Order No. I of 1999, read with Article 4 of the Provisional
Constitution (Amendment) Order No. 9 of 1999, and in exercise of all powers
enabling him in that behalf, the Governor of the [8][Khyber
Pakhtunkhwa] is pleased to make and promulgate the
following Ordinance: 1.
Short title and commencement.—(1) This Ordinance may be called the [9][Khyber
Pakhtunkhwa] Hydel Development Fund Ordinance, 2001. (2) It shall come into force at once. 2. Definitions.—In
this Ordinance, unless the context otherwise requires,- (a)
"Board"
means the Board constituted under section 4; (b)
"Chairman"
means the Chairman of the Board; (c)
"Fund"
means the Fund established under section 3; (d)
"Government"
means the Government of the [10][Khyber
Pakhtunkhwa]; (e)
"member"
means a member of the Board; (f)
"PDWP"
means the Provincial Development Working Party established in the Planning and Development Department of
Government under the chairmanship of Additional Chief Secretary to Government; (g)
"prescribed"
means prescribed by rules made under this Ordinance; (h) "project"
means large, macro-economic and income generating project or scheme pertaining
to the development of hydel electricity to be financially assisted from the
Fund; (1)
"section"
means a section of this Ordinance; and (j) "SHYDO"
means the [11][Khyber
Pakhtunkhwa] Hydel Development Organization,
established under section 3 of the [12][Khyber
Pakhtunkhwa] Hydel Development Organization
Ordinance, 1993 ([13][Khyber
Pakhtunkhwa] Ord. No. I of 1993). 3. Establishment of
the Fund.—(1)
As soon as may be after the commencement of this Ordinance, Government shall
establish a Fund to be known as the Hydel Development Fund. (2)
Subject to the
availability of resources, with particular reference to its over all
liabilities, Government shall, on yearly basis, contribute to the Fund, such
amount as it may determine, out of the total amount received from the Federal
Government or an authority of the Federal Government on account of net profits
earned by it from the generation of hydro electricity, for the purposes of this
Ordinance, and may, in cases of exigencies, contribute to the Fund from other
grants received from the Federal Government or any other agency or from its own
budget pertaining to the Annual Development Programme. (3)
All profits from
hydel projects undertaken from the Fund shall be deposited in the Provincial
Consolidated Fund at the close of each financial year: Provided that Government shall contribute ten per cent of such
profits to the Hydel Development Fund. (4)
The amount
contributed to the Fund shall be exclusively utilized for the development of
hydel electricity in the Province and shall be operated upon in accordance with
the provisions of this Ordinance and the rules made thereunder. (5)
All expenditure from
the Fund shall be deemed to be an expenditure charged upon the Provincial
Consolidated Fund within the meaning of Article 121(e) of the Constitution of
the Islamic Republic of Pakistan. (6)
No project costing
less than five hundred million rupees shall be financially assisted from the
Fund. The Board may consider and approve viable projects costing less than five
hundred million rupees; provided that such a project is a joint venture being
executed with the collaboration of the private sector. (7)
Each project shall be
undertaken on the basis of equity participation and the extent of equity
participation shall be determined by the Board on case to case basis. (8)
Investment of all
moneys received into the Fund shall be decided by the Board. [14][(9) An Investment Committee, consisting of the following, shall be
constituted to make recommendation to the Board for making investment out of the Fund: 1. Chief Secretary to
Government Chairman 2. Secretary to Government,
Irrigation Member and Power Department 3.
Secretary to Government, Finance
Department: , Member 4.
Managing Director, SHYDO Member 5.
Director Finance and
Administration SHYDO Member] 4. Constitution of the Board.—(1)
For carrying out the purposes of this Ordinance, there shall be a Board
comprising the following:- (i) [15][Chief Minister] of the [16][Khyber
Pakhtunkhwa] Chairman or his nominee
not below the status of a Provincial Minister, other than the
Ministers at clauses (ii) and (iii); (ii) Minister for Finance, [17][Khyber
Pakhtunkhwa]; Member (iii) Minister for
Power, [18][Khyber
Pakhtunkhwa]; Member (iii)
Chief Secretary to
Government; Member (v) Additional Chief
Secretary to Government; Member (vi) Managing Director,
Bank of Khyber; Member (vii) one Provincial
Chief of any leading public sector Member bank or development financial institution stationed at Peshawar to be nominated by Government; (viii) the Secretary to
Government, Finance Department; Member
(i)
the Secretary to
Government, Power Department. Member-cum- Secretary (2)
The Board shall meet
at such time and place and on such dates as the Chairman may direct. (3)
The Chairman and [19][four] members shall form
quorum for a meeting. (4)
All decisions in a
meeting of the Board shall be taken by majority of votes of members present;
provided that the Chairman shall have a casting vote in case of equality of
votes of the members. (5)
The Board shall,
until rules are made in this regard, evolve its own procedure for the conduct
of its business under this Ordinance. (6)
No remuneration shall
be admissible to any member including the Chairman. 5. Functions
and powers of the Board.— (1) The Board shall, in consultation with Government,
if need be, have the power to control, operate and utilize the Fund for the
purposes of this Ordinance: Provided that the Board shall approve only such projects or
schemes including feasibility studies, for being financially assisted from the
Fund as may, for reasons to be recorded in writing, result in direct economic
growth to the Province or augment the provincial receipts: Provided further that the Board may for the purpose of this
Ordinance, seek such independent expert advice from proper source appropriate
to evaluate whether a particular project or scheme is feasible to be
financially assisted from the Fund or not. 6. Submission of projects and schemes
to the Board.—(1) For the purposes of this Ordinance, the SHYDO through the [20][Irrigation and Power
Department] of Government shall submit each case for financing of a project or
scheme from the Fund to the Board and the Board shall, after it has been
scrutinised by the PDWP, subject to the provisions contained in the provisos to
section 5, approve the same in the prescribed manner: Provided that until the rules are made in this regard, the case
shall be submitted to the Board in such manner as the Board directs. 7. Accounts and
audit.— (1) The [21][Finance Department] of
Government shall maintain the accounts of the Fund in such form and
manner as may be prescribed. (2) No amount from the
Fund shall be withdrawn and incurred, except with the prior approval of the
Board, and every such drawal shall be jointly signed by the [22][[23][Secretary Finance], [24][Khyber Pakhtunkhwa] and
the Secretary Irrigation and Power Department] as members of the Board. (3)
Annual statement of
accounts in respect of the Fund shall be prepared by the [25][Finance Department] on
the close of each financial year, and the Board shall cause such statement
alongwith brief report on the maintenance and management of the Fund to be laid
before Government within three months of the close of the said financial year. (4)
The Fund shall be
audited annually by the Auditor General of Pakistan through its commercial
audit and the audit report shall be laid before the Board within a period of
one month of its receipt in an annotated form and will be submitted to
Government. 8.
Power to make rules.—Government may make rules for carrying out the purposes of this
Ordinance.
[1] Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [2] Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [3]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [4]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [5]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [6]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [7]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [8]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [9]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [10]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [11]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [12]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [13]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [14]Added vide Khyber
Pakhtunkhwa Act No. IX of 2006 [15]Substituted vide
Khyber Pakhtunkhwa Act No. X of 2003 [16]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [17]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [18]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [19]Substituted vide
Khyber Pakhtunkhwa Act No. IX of 2006 [20]Substituted vide
Khyber Pakhtunkhwa Ordinance No. XIII of 2002 [21]Added vide Khyber
Pakhtunkhwa Act No. IX of 2006 [22]Substituted vide
Khyber Pakhtunkhwa Ordinance No. XIII of 2002 [23]Substituted vide
Khyber Pakhtunkhwa Act No. IX of 2006 [24]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 [25]Added vide Khyber
Pakhtunkhwa Act No. IX of 2006 [26]Substituted vide
Khyber Pakhtunkhwa Act No. IV of 2011 |