Omar vows to provide electricity on competitive rates

ISLAMABAD – Minister for Energy Omar Ayub Khan Wednesday reiterated firm resolve of Pakistan Tehreek-e-Insaf (PTI) government to revamp the power sector by curtailing the circular debt and providing electric­ity to consumers on competitive rates.

“We have brought down the per unit rate of elec­tricity, which is being produced through renewable energy and solar resources, from 12.5/13 cent to 3.75 cent during the last two years,” he said while sharing two-year performance of the PTI government at a news conference, along with members of the Federal Cabinet. He said the renewable and solar project, ini­tiated by previous governments were costing around 12.5/13 cent per unit, while the projects, initiated by the incumbent government, had brought down the rate considerably. 

Under the new policy, he said when the alternative and solar energy projects would be awarded through open and competitive bidding “the rate will go further down and benefit the public.” The minister said the gov­ernment had recently got approved a new Alternative En­ergy Policy from the Council of Common Interests (CCI) unanimously, under which 75 per cent of the country’s total electricity would be produced through indigenous resources by 2030. “Currently, almost 70 per cent energy-mix needs are met through costly imported fuel. We have to change it utilizing indigenous energy resources.”

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