The Bermuda international, signed last January in a £1.2m deal from Bradford City, is the Terriers’ top scorer with six goals in all competitions.
Despite that, Powell has opted to start Holt with Sean Scannell and Harry Bunn playing either side of the loanee striker in recent games.
The Town chief said: “Nahki is training brilliantly. He is naturally frustrated that he is not playing. But, equally, he would be the first to admit that it is hard for me to get him in the team as the three front boys have been excellent. They have given us a real balance.
“However, I won’t keep this formation forever. I will change. Nahki is important to me and this team, because he is a goalscorer at this level.
“Every manager will tell you that the more of those you have the better. He knows he will get chances and when he does, I will be the first to hope he takes them.
“He is a big player for us and the fact he hasn’t started recently means nothing.”
Town head to Ipswich Town today in buoyant mood thanks to a five-game unbeaten run that has lifted the club clear of relegation trouble.
Spirits were raised further last night when confirmation came through that Holt, a revelation since joining from Wigan Athletic last month, would be staying until December 28.
His loan stay had been due to run out on November 8 but Powell moved quickly to secure an extension.
The Town chief added: “Grant has had an immediate impact on the team and has played a role in our unbeaten five game run.”