ISLAMABAD: Prime Minister Shehbaz Sharif has directed the concerned authorities to speed up the steps regarding foreign investment in solar energy projects. While presiding over the first sectoral meeting regarding Power Division on Monday, the premier directed to shift the coal-based power plants to local coal and improve the transmission lines for a reduction in losses.

The meeting was also briefed on the 600MW solar power project under foreign investment.

He directed that proposals should be prepared to better utilise the existing excess capacity of electricity in the industries.

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He said that electricity wheeling charges should be reduced so as to make it possible to provide electricity to industrial consumers at a lower cost.

He further stated that the establishment of grid stations near big industries should be ensured for industrial development and increase in exports, and expedite the process for privatisation of active GENCOs.

Besides, he directed to expedite the auction process of inactive and inefficient GENCOs.

The premier said the government is taking all possible measures to reduce the per unit price of electricity for the common man, adding that reforms are being undertaken in the power sector to reduce the circular debt.

The meeting was briefed regarding the current production and transmission system of the electricity sector, government initiatives and proposals. The meeting was also informed about the future electricity consumption and demand.

The meeting was informed that shifting the imported coal-fired projects to local coal will also make it possible to reduce the electricity prices for consumers by Rs2 per unit.

Earlier, speaking to the participants of the meeting, the premier said the government held various meetings on the economy but that was the first sectoral review of Power Division. He said the government’s priority was how to stop electricity theft, which was a very big challenge. He said another issues was transmission line system which was in very bad shape and no matter how much effort and investment was made it would remained inadequate. He said “if the transmission system is not efficient no matter how much power is produced it would increase wastage.” The PM wanted to bring in an international consultant to improve the system.

The PM asked the authorities to take measures on surplus electricity at a marginal cost as well as steps to increase hydel power timely.

He said that ultimately the country has to move towards alternate resources of power. He said the tanker mafia was plundering the wealth of this country.

The premier added $27 billion worth of imports were made to electricity needs and least could be done to reduce the oil imports for power generation by exploring alternative resources such as wind, hydel and solar power.

The premier said he had spoken to the chairman National Disaster Management Authority (NDMA) and was informed about the rain-related loss of lives consequent to the ongoing rains.

The premier said he instructed the chairman NDMA to provide relief goods to the people affected by rains.

Copyright Business Recorder, 2024


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KU Apr 16, 2024 11:01am
Swift steps towards foreign investment requires time, we don't have any. We need to encourage private sector to invest/import solar technology on emergency basis, and give people affordable solutions.
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Maqbool Apr 16, 2024 01:25pm
Going in the right direction, now to Implement those words of wisdom
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Tin Pot General Apr 16, 2024 01:57pm
Swift steps to increase family wealth as they own major stakes in solar industry.
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Faraz Apr 17, 2024 11:21am
Nice effort PM Shahbaz Sharif.
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Cool boy Apr 17, 2024 01:43pm
What a crazy idea .. already the country has no dollars and he is inviting foreigners to invest and then take away dollars as profit
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Cool boy Apr 17, 2024 01:43pm
What a crazy idea .. already the country has no dollars and he is inviting foreigners to invest and then take away dollars as profit
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