Home Business Performance of Power Sector discussed with IMF mission

Performance of Power Sector discussed with IMF mission

IMF delegation headed by Director Middle East and Central Asia, Mr. Jihad Azour met Federal Minister for Power Mr. Omar Ayub Khan at his office this afternoon. Secretary Power Division Mr.  Irfan Ali and other senior officials of the Power Division were also present during the meeting.

The Federal Minister for Power informed the delegation regarding historic achievements by the Power Division in record recoveries and reduction in line losses. He said that due to concerted efforts of the Team Power Division led by Mr. Irfan Ali, Secretary Power Division the circular debt has shown considerable reduction in its growth. It was growing with volume of Rs. 38 Billion per month and in 8 month its growth at the end of last financial year was reduced to Rs. 26 Billion per month. In July 2019 the results are even encouraging as the growth is further arrested to Rs. 18 Billion per month. He said that a comprehensive campaign against power theft and defaulters by the Power Division is yielding these results.

Mr.  Omar Ayub Khan also appraised the delegation on the technical and system improvement measures undertaken by the Power Division in the Power Sector. He said that in areas where hooks and power theft from lines was rampant, the Ariel Bundled Cables are being installed by the DISCOs while in areas where there problem is more sophisticated like the major urban areas the AMI meters are in execution. He further informed the delegation that 80% of the total feeders in the country are now load management free.  He said that we are now investing the distribution system both to improve its technical viability and also increase its human resources to make these entities perform efficiently. He also informed the delegation about the new Renewable Energy Policy whereby the Government is targeting to increase share of indigenous resources and cutting down the prices of the electricity for the consumers besides reducing dependency on imported fuels. We intend to increase the share of indigenous resources upto 75%, he added.

Mr. Jihad Azour appreciated the efforts by the Power Division in meeting its targets.  He also appreciated the efforts of Power Division in formulating the new Renewable Energy Policy. He said that Power is an integral part of the IMF programm. He said that Power Sector performance in their views is encouraging as they had a detailed discussion with various stakeholders. He also appreciated the shift toward utilization of indigenous resources leading towards reducing the prices of electricity in the country that will ultimately benefit all walks of life.  

Must Read

UNDP and Jazz open registrations for SDG Bootcamps for Social Enterprises

Aimed at promoting social entrepreneurship and strengthening the startup ecosystem in the country, UNDP Pakistan and Jazz have launched SDG Bootcamp for Social Enterprises....

The Country’s Fastest Growing Smartphone Brand realme & the E-commerce Stronghold Daraz Form a Partnership

realme, the world’s fastest-growing smartphone brand, today officially signed a MoU with Daraz for developing its online channel and sales in Pakistan. With e-commerce...

Federal Secretary for IT and Telecommunication Visits PTA

Federal Secretary for IT and Telecommunication, Dr. Muhammad Sohail Rajput visited PTA Headquarters today. Chairman PTA, Maj General Amir Azeem Bajwa (R), Member Finance...

Jazz secures telecom sector’s largest credit facility to support 4G network rollout

Jazz has secured a PKR 50 billion syndicated credit facility from a banking consortium led by HBL. This 10-year facility will be used to...

Mobilink Microfinance Bank, CARE International in Pakistan sign MoU to Strengthen Entrepreneurial and Financial Ecosystem

Pakistan’s largest digital bank, Mobilink Microfinance Bank (MMBL) has joined forces with leading global humanitarian and development non-governmental organization, CARE International in Pakistan (CIP),...