Economic growth: PM wants speedy reforms in power sector

ISLAMABAD: Prime Minister Imran Khan on Monday, while chairing a meeting on power sector reforms, said that it was affecting economic growth. The meeting discussed issues related to the power sector, the proposed roadmap of reforming and restructuring of the sector as well as the issue of circular debt and negotiations with the IPPs.

The prime minister said that the power sector was affecting economic growth of the country and immediate overhauling and reform process was essential to lessen existing burden on the consumers. The prime minister directed early implementation of the restructuring roadmap already approved.

The prime minister also advised the minister for power to apprise the public about the major milestones achieved in negotiations with the IPPs and its potential benefits for the consumers including domestic and commercial consumers. He acknowledged the progress in mutually agreed changes to the IPP contracts stating that rationalization of cost would help in reducing the circular debt. The meeting was attended by Planning Minister Asad Umar, Minister for Power Omar Ayub, SAPM Shahzad Qasim, SAPM Nadeem Babar, and senior officials.

Copyright Business Recorder, 2020