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ISLAMABAD: Minister for Finance, Revenue, Industries and Production, Hammad Azhar has underscored the need for strictly following a structured approach to timely completion of envisaged reforms.

The minister stated this while chairing a meeting to review progress on reforms in the power sector on Friday – hours before the Prime Minister' Office said, he was made Minister for Energy.

The secretary power briefed the finance minister about the efforts being made for reformation of the power sector with a view to providing maximum relief to the electricity consumers.

The key focus of the reform process is to bring efficiency, cost effectiveness and sustainability in the system. A consultative process is being followed to ensure all stakeholders are on board, he added. The finance minister was also updated about the circular debt management plan and the related matters.

Azhar acknowledged the efforts made to set the future direction of the power sector.

The unaffordable cost of electricity generation, circular debt build-up and leakages in the transmission system had made the power sector financially challenging, he added.

After seeking input from all concerned, he stressed to follow a structured approach for timely completion of envisaged reforms.

He stressed that time is of the essence for reduction in circular debt, upgradation in transmission and distribution infrastructure and improved service delivery in the power sector, and stated that facilitating the common man was the top priority for the government, he concluded.

Federal Minister for Economic Affairs Division (EAD) Makhdum Khusro Bakhtyar, Special Assistant to Prime Minister (SAPM) on Power and Petroleum Tabish Gauhar, secretary Finance Division, secretary Power Division, secretary Economic Affairs Division, and other senior officers attended the meeting.

Copyright Business Recorder, 2021

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