ISLAMABAD (APP) - Minister for Water and Power Raja Pervez Ashraf on Wednesday said the government will soon announce mid-term renewable energy policy focusing on alternative and indigenous resources to produce electricity on affordable prices. Addressing a press conference, the minister said under the policy the government will prepare comprehensive short and long term plans to utilize all the renewable energy resources available in the country besides attracting the private sector for investment to overcome power crises. He said the countrys first wind farm will be inaugurated on April 19 in Jhimpir, Sindh terming it a key step towards meeting energy needs of the country. He said the wind farm, established by leading Turkish company will meet the demand for electricity of 7,400 homes. He said National Electric Power Regulatory Authority (NEPRA) has awarded tariff of US Cents 12.1057 per KWH, which is cheaper than the electricity generated from thermal sources. The minister said such tariff would be further reduced to 4.5 US Cents on per KWH after 10 years. The minister added that five turbines, installed in the first phase, would provide a total of 6 MW electricity while the project would be expanded to a 50 MW. He said the ministry has received tariff determination from National Electric Power Regulatory Authority however the government still didnt increase the electricity tariff. He said the government annually affords expenses of Rs. 185 billion on subsidies to provide electricity to the customers on substantial rates despite financial constraints. He said a task force has been formed to monitor those major electricity consumers who are involved in power theft. He added besides imposing fines on them their power connections will also be disconnected. To a question, the minister said Karachi Electric Supply Corporation (KESC) has assured the government to invest 361 million dollars for generation of additional 400 MW electricity by December this year. He said the water situation in major dams including Tarbela and Mangla is improving and better than the last years situation. He expressed the hope that situation will further improve in coming days. He assured that by December 2009 the government will include additional 3500 MW electricity in the system. He assured that there will be no load shedding after December 2009. Pervez Ashraf said that potential of more wind corridors is being studied as the country has theoretical wind energy potential of 346,000 MW, out of which 50,000 MW in Gharo-Keti Bandar wind corridor renders excellent opportunities for the private sector developers to execute their project. He added in order to support development of wind energy sector in the country, indigenous fabrication of wind towers has also been started. He said that country is blessed with enormous resources in other sectors too such like hydro sector has a potential of over 50,000 MW, and large potential exists in the area of solar, waster to energy and geo thermal. He said a cumulative of 400 MW capacity projects are under development through public and private sector in small and micro hydel and waste to energy projects. He said AEDB has lined up donors assistance of $700m specific for the development of renewable energy in the country. He said AEDB is exploiting all forms of renewable energies to supplement the initiatives taken by the government to eradicate energy shortage. He said 42 MW of renewable energy has been added to the countrys generation mix and during the last one year over 3000 houses in remote, off-grid villages provided electricity through renewable energy applications under the Rural Electrification Programme. He said the countrys first wind farm project would underline the ministrys ambition to facilitate the setting up of a portfolio of high-quality wind projects which would provide clean and secure energy supplies to the country and create new business opportunities.