Pakistan Will No Longer Be Among Countries Generating Expensive Electricity: Laghari

Umer Jamshaid Published November 29, 2024 | 08:55 PM

Federal Minister for Power, Sardar Awais Ahmed Khan Laghari on Friday that due to the government's initiatives, within the next five to six months Pakistan will be no longer among the countries generating expensive electricity

ISLAMABAD, (UrduPoint / Pakistan Point News - 29th Nov, 2024) Federal Minister for Power, Sardar Awais Ahmed Khan Laghari on Friday that due to the government's initiatives, within the next five to six months Pakistan will be no longer among the countries generating expensive electricity.

While briefing a session on the “Bijli Sahulat Package,” he said, “We are hopeful that in the coming months, Pakistan will not be a country generating costly electricity in the region.”

The minister highlighted that the government's measures are aimed at making electricity production more competitive. He said that providing relief to the common people remains a top priority. “It is the Prime Minister's directive to ensure relief for consumers,” he added.

Under the Prime Minister's dynamic vision, promoting economic activities is a key priority, and the power sector is playing a crucial role in bolstering the national economy. The minister reiterated that practical steps are being taken to streamline the power sector.

He termed the Electricity Relief Package as a revolutionary step that has achieved a significant milestone in the power sector, contributing to economic stability. “We have initiated reforms not only to streamline the power sector but also to make it profitable,” he added.

He underscored the importance of the power sector as the backbone of the country's economy, adding that the government has delivered on its promises to the public. The package, he noted, will provide relief to domestic consumers while simultaneously boosting industrial activities.

He further disclosed that the government has successfully negotiated with Independent Power Producers (IPPs) and terminated power purchase agreements with five IPPs, a move expected to save the economy billions of rupees by reducing capacity payments. Negotiations with 11 more IPPs are currently underway, he added.