ISLAMABAD: The Asian Development Bank (ADB) and the Power Division, on Monday, discussed various energy sector-related issues and progress in long-committed reforms.
These issues came under discussion at a meeting between a team of the ADB comprising its Director General Central and West Asia Department, Eugenue Zhukov and Country Director Yong Ye who called on Federal Minister for Power Khurram Dastgir Khan and Minister of state Hashim Notezai on Monday.
Appreciating the ADB’s support in the development energy sector of Pakistan, Dastgir said Pakistan valued its partnership with the ADB and other financial institutions. “Both from policy and project size, energy is the biggest sector for the Government of Pakistan.”
Dastgir conveyed the commitment of the government with respect to the reforms in the energy sector and underscored the resolve to continue structural reforms.
He further stressed that the government envisioned to replace energy production capacity from imported fuel to indigenous resources, increase generation from solar and wind, and exploitation of domestic coal, which would not only improve country’s balance of payments but also in the medium term would bring down the cost of electricity. The government is working to recover pending receivables and manage the circular debt.
The ADB appreciated Notezai’s proposal of off grid solar solutions for Balochistan and will work together to chalk out possibilities.
Further, the ADB will carry out pre-feasibility study for conversion of carbon-intensive power plants to less-carbon intensive ones.
The ADB will be investing around one billion dollars in transmission in the next two years. The director general appreciated the minister’s vision for the sector and expressed his high hopes for continuity of reform momentum.
Copyright Business Recorder, 2022