Govt to Make Energy Sector Reforms Part of FY24 Budget

The government has decided to make energy sector reforms a part of the budget for the next fiscal year 2023-24 (FY24) in order to reduce the country’s reliance on imported fuel.

The decision was taken by Prime Minister Shehbaz Sharif at a high-level meeting on energy-related budgetary proposals on Tuesday that focused on the generation of cheap electricity, relief for consumers, and the launch of solarization projects.

The premier directed the inclusion of measures in the upcoming budget regarding control of transmission and distribution losses and electricity theft. He said that the transmission projects should be completed on a priority basis. To cut line losses and electricity theft, he directed to make transformer metering projects part of the budget.

The prime minister also directed the allocation of funds in the budget for the launch of wind and solar energy projects. The meeting was informed that under the government’s solarization programme for public buildings, four phases had been completed successfully. The premier directed the early completion of the solarization programme.

The steps taken by the government for the supply of uninterrupted electricity and gas to export-oriented industries also came under discussion. The prime minister said that the energy needs of the export-oriented industry should be met on a priority basis.

The meeting was attended by Finance Minister Ishaq Dar, Defense Minister Khawaja Asif, Energy Minister Khurram Dastagir Khan, Information Minister Marriyum Aurangzeb, Adviser to PM Ahad Cheema, State Ministers Dr Musadik Malik, and Ayesha Ghous Pasha, PM’s Special Assistant Tariq Bajwa, Jahanzeb Khan, FBR Chairman, WAPDA Chairman and other concerned officials.

Commerce Minister Syed Naveed Qamar, State Bank of Pakistan Governor, and prominent businessmen joined the meeting through video-link.

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