Federal Minister for Energy Owais Leghari, giving great news to consumers, said that electricity can be cheaper by 10 rupees per unit through reforms.
The power sector is facing many problems, and reforms are needed, Pakistan has concerns regarding IPPs, lack of strategy due to the high cost of electricity, revolving debt and high interest rates are burdening consumers.
Addressing an event, the Minister of Energy said that the reason for the high cost of electricity is the lack of strategy, the burden of circular debt, and high interest rates falling on the consumers, EV charging stations will be built across the country, and petrol imports will decrease.
He said that 10 power companies will be privatized at the end of this year, electricity can be cheaper by 10 rupees per unit through reforms, and the price of electricity can be reduced for the industry.
The federal minister said that he tried to solve the problem of giving responsibilities in the power sector, in the past, the bureaucracy and the power division could not work, and the projects that were completed in a few months in the power sector could not be completed in years.
He said that the political affairs in the distribution companies were very bad, the orders of the government were not implemented in the past, and subsidies were given to 9 distribution companies that were closed.
The Minister of Energy said that the Financial Advisor is in touch with the Privatization Commission, and a financial advisor will be appointed in a month to hand over 3 government discos to the private sector, 70% of the power plants are running under government patronage.
Regarding the measures, he said that they are trying to reduce the electricity production prices, reviewing the contracts of power plants and IPPs, and dividing NTD into 3 parts under power reforms.
He further said that a 500 billion subsidy was given to the weaker section in electricity bills, proposals for privatization of electricity distribution companies are under consideration while IPP contracts are being reviewed, and 2700 MW of additional electricity is required by 2034, Hydel. More electricity can be obtained from power and solar energy.
Owais Leghari said that stations will be established across the country for recharging electric vehicles. If electric vehicles are promoted in the country, there will be a reduction in the import of petrol. The federal energy minister said that the cost of electricity for industries can be reduced through consultation and by deciding on a comprehensive strategy.
