The Governments of AJ&K and Punjab will earn a significant amount of revenue on account of taxes, fees, etc, while during the operation period water use charges of approx., he added.
He said PPP and PML-N had signed accords with Independent Power Producers (IPPs) and purchased expensive electricity due to which people were facing electricity as well as gas shortages in the country.
Omar Ayub said the power sector was the biggest medium of transferring subsidies to consumers but there was a harsh reality that 50 percent circular debt amount was due to the unbudgeted subsidies.
The initiative was meant to evacuate additional RLNG volumes from the two existing terminals and the LNG terminals, being developed by the private sector.
He said gas consumption had significantly increased in the country, while the existing gas reservoirs were depleting at a ratio of 7.5 percent annually.
Omar Ayub apprised the envoy about investment-friendly policies, introduced by current government in diverse fields for development and economic growth of Pakistan, said a news release.
The uninterrupted smooth power supply was being ensured to the domestic consumers to provide relief in the summer season, he said talking to a private news channel.
Efficiency of the power sector could only be improved through provision of best facilities to consumers, prompt redressal of complaints, availability of transformers.
A meeting of the Senate Standing Committee on Petroleum was held under the chairmanship of Senator Mohsin Aziz in which the issue of gas distribution in the provinces was discussed.
Omar Ayub said that by 2023 Pakistan will generate 75-80pc of its electricity from its local sources including nuclear, hydro, and coal power, which will reduce the electricity tariffs for the end customers.
The opening of a charging station in Islamabad will help encourage electric vehicles as future transportation in the country, says Babar.
The minister told the House, that they are providing an additional 100 megawatts of electricity to the KE, which is more than the contract agreement signed with it.
The government will provide more gas to the KE, which will result in generating 200MW of electricity.
He said unfortunately the government did not increase in the salaries and pension of the government employees in the budget of 2020-21 due to present situation of coronavirus.
There is a shortage of petrol in most of the cities of the country including Karachi and despite most of the petrol pumps are open but petrol is not available.
The meeting decided that OMCs would not be allowed to cancel or defer their planned cargoes for June 2020, while oil refineries had been directed to produce their committed volume of petroleum products.