The cabinet has approved the supply of electricity to industries under the industrial feeders without any load shedding.
This was revealed by the Federal Minister of Power Khurram Dastgir during a press conference in Islamabad.
Briefing the media about the cabinet’s decisions, he said that the government would try its best to minimize the load shedding to the industries under mix feeders as well to increase production and employment in the country.
He told the media that to boost the country’s export, the cabinet has deliberated the topic of providing subsidies on electricity and regasified liquefied natural gas (RLNG) to five export-oriented sectors. However, the decision to provide a subsidy has not been finalized yet but it is expected that the cabinet will soon announce the subsidy.
The Economic Coordination Committee (ECC) after a detailed discussion approved the RLNG rate at $9 per MMBTU, all-inclusive to five export-oriented sectors across Pakistan for existing gas connections for the current fiscal year. The electricity subsidy was also approved at cents 9 cents per kWh to the five sectors.
The power minister said that the subsidy would allow Pakistani products to be competitive in the international market. With the recent changes in the global market, Pakistan had to create its space with competitive goods, he added.
Dastgir also informed that power generation in Tarbela Power Station had increased from 1,100 MW to 4,500 MW due to rains in July. The government was also constructing power plants to produce cheaper electricity for the public. In addition, the K2 Nuclear Power Plant in Karachi also resumed production, which was shut down due to refueling, he added.
To further curtail the power shortages, he revealed that Prime Minister Shehbaz Sharif was going to announce the first solar energy policy in Pakistan in the coming days. The government plans to produce solar power on a large scale, which will cut down the cost.
The minister said that the policies of the current government were leading the economy in the right direction.
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