WEDNESDAY APRIL 13: Two-day weekly off to save energy: Ministry to seek approval

ISLAMABAD: The ministry of water and power will seek approval of two-day weekly off in a bid to save electricity for overcoming burgeoning power crisis.
Talking to media after attending the concluding session of Pakistan Energy Conference, organised by Petroleum Institute of Pakistan (PIP), Federal Minister for Privatisation and Water and Power, Naveed Qamar said the government was expecting $500 million to $1 billion through convertible bonds to be issued by Oil and Gas Development Company Limited (OGDCL) that will also help resolve the circular debt issue.
He said two-day holidays plan has been instrumental in saving 300MW per day last year. "We will also move a summary to seek approval of two-day holidays a week this year to control load shedding," Qamar said, adding that all the stakeholders will be taken on board in implementing the plan.
The minister said that 2000MW electricity had been added to the national grid. "However, consumption of power is increasing with passage of time," he said, adding that the government will have to adopt the policy of coal fired power plants to overcome load shedding. The government is also working on utilising the option of LNG import to meet gas demand. "The government has no magic wand to end load shedding," he added.
Meanwhile, addressing the conference, Naveed Qamar said that role of industry and government was inter-dependent. "We have revisited many issues but past government had not taken decisions to address the problems of energy sector," Qamar said, adding that " the concept of council is important and we endorse it because the terms and conditions of council are as per the industry's need. The prime minister will approve formation of council that will be notified soon.
He said the government had already taken many initiatives that include deregulation of downstream industry. "The circular debt is also a critical issue and the government is working on multiple options to resolve it besides raising money through bonds that will improve the balance sheet," he said, adding that the tariff re-balancing is being done to reduce circular debt.
Petroleum Institute of Pakistan (PIP) Chairman Zaiviji Ismail said "we need to quickly agree on the Energy Council's composition as well as modus operandi and draw its Terms of Reference (ToR) after getting endorsement of the Prime Minister." If we are serious in resolving the energy challenge, we need to set up the council in 30 days with the right composition with appropriate government functionaries and industry leaders," Ismail said.
He said the energy council would have to create enabling environment for conventional and non-conventional exploration, development of Thar coal fields, fast tracking imports of LNG, resolution of power sector issues, deregulation and energy conversation. "The industry and the government should work hand in hand to come up with a workable integrated energy plan for the country," Ismail said, adding that "from there we will be able to prioritise the projects and clearly identify the short-term quick wins, the mid-term deliveries and the long-term projects.