ISLAMABAD, Feb 07 (APP): Prime Minister Shehbaz Sharif Friday chaired a review meeting on the implementation of reforms in the power sector.
Speaking at the meeting, he said by the grace of Allah, the ongoing reforms in the power sector were yielding positive results.
He said it was a good sign that the ministry and the relevant departments were cooperating to rectify defects of the last seven decades.
“We promised to the public from day one that low cost environment friendly electricity will be provided to them,” he added.
The prime minister pointed out that the revisiting of agreements with the Independent Power Producers (IPPs) led to saving for the national exchequer and reduced the price of electricity for consumers.
He said the reduction in deficits of distribution companies due to campaign against electricity theft was made possible because of hard work of the ministry of power and supporting institutions.
He vowed to bring down losses of the distribution companies, caused by power theft, by 100 percent by speeding up the campaign against stealing of electricity.
He pointed that the performance of the distribution companies was improving after appointment of board members of good reputation, from the private sector.
More members of good reputation would be hired from the private sector soon for constituting boards in the remaining companies, he said adding the reduction in losses during electricity transmission was evident of the positive result of the reforms.
The tariff rate for domestic consumers and industries would be further reduced with the ongoing reforms in the power sector, he continued.
The meeting was briefed about the targets for the next three years in the power sector and on the performance of the sector.
It was told that the receipts of the distribution companies reached 93.26 percent by December 2024 as a result of the reforms and the campaign against electricity theft.
The participants were also informed about the strategy to reduce the circular debt in phases, establishment of competitive markets for transmission of electricity and about the timeline for reduction in power tariff and other reforms.
The meeting was told about the progress on the 500 kv Matiari-Moro-Rahim Yar Khan transmission line and Ghazi Barotha-Faisalabad transmission line.
They were also apprised about the dissolution of National Transmission and Despatch Company and on progress for formation of new Energy Infrastructure Development and Management Company (EIDMC).
The prime minister instructed to complete all reforms and projects within the stimulated timeframe.
Federal ministers Khawaja Muhammad Asif, Ahad Khan Cheema, Attaullah Tarar, Dr Musadiq Malik and Sardar Awais Leghari, Special Assistant to PM Muhammad Ali and high level officers concerned attended the meeting.