Annual Performance Agreement (APA) for Fiscal Year (FY) 2021-22 of PHPA-I signed

The Annual Performance Agreement (APA) for Fiscal Year (FY) 2021-22 of the PHPA-I was signed between the Hon’ble Minister for Economic Affairs cum Chairman of PHPA-I and the Managing Director & the Joint Managing Director of PHPA-I on 4th September 2021 at Thimphu. The event was attended by Dasho Bharat Tamang Yonzen, Member-Royal Privy Council, Mr. Karma P. Dorji, Director-Department of Hydropower & Power Systems (DHPS)-MoEA, Director (Finance) & Director (Technical), PHPA-I and other Sr. Officials from DHPS and PHPA-I.

In a nutshell, the APA for FY2021-22 consists of 32 Success Indicators (SIs) pertaining to the construction of Dam/Barrage and Powerhouse and, supply & erection of Electro-Mechanical equipment. The key objective of the Performance Agreement is “to make the Project Management, Consultant and the Contractors fully responsible for driving implementation and delivering the results against the set targets and, to provide an objective and fair basis for evaluating the performance at the end of FY 2022”.

The Performance Agreement represents an important accountability mechanism for inculcating a performance-based culture in the project implementation.