Powervalve is the vacuum operated jet in the very middle of the carburettor, it has a vacuum line at the very top and center of the carb, its job is to allow extra fuel when you are really accelerating hard and the secondary throttle is also opened up fully.
If its not connected or is leaking, you will have a very rich running engine. Also if anyone ever tries to sell you the "half self start" in morning manjann. Find a new mechanic - To cold start a properly tuned engine you need to pull the choke on the carburettor primary throat.