Prime Minister Muhammad Shehbaz Sharif directed a swift completion of the second and third phases of the privatisation of loss-making GENCOs and further instructed that the GENCOs’ auction process should be broadcast live on media, just like other privatisation programmes, the PM Office Media Wing said in a press release.
The prime minister chaired a review meeting on the ongoing power sector reforms. He emphasised expediting the privatization of power distribution companies.
The prime minister was informed that the first phase of privatising outdated and loss-incurring GENCOs was completed, generating revenue of Rs. 9.05 billion for the national exchequer. The second and third phases were underway at a fast pace. To ensure transparency, the auction proceedings were being broadcast live.
During the meeting, the prime minister called for an early report after the installation of smart meters is completed. The meeting received a detailed briefing on ongoing reforms and projects related to electricity generation, transmission, and distribution.
He said that the federal government had completed the solarisation of tube wells in Balochistan, which would enhance the province’s agricultural productivity.
The meeting was further informed that successful negotiations were held with 36 Independent Power Producers (IPPs) regarding electricity tariffs, resulting in projected savings of Rs. 3.69 trillion for the national treasury.
The prime minister also instructed that the establishment of electric vehicle (EV) charging stations across the country be accelerated and directed that proposed projects to improve the power transmission and distribution system be initiated promptly.
He observed that electricity consumers were given power rate relief during the recent winter season.
He stressed that the completion of environmentally friendly and low-cost renewable energy projects remained a top priority to provide further relief to the public.
During the meeting, it was informed that efforts were underway to bring industrial units onto the transmission line to ensure uninterrupted power supply to industries, which would lead to increased industrial output, exports and foreign exchange.
NTDCL, the national transmission company, had been dissolved and replaced with the Energy Infrastructure Development Company and the National Grid Company, which were now being assigned their respective responsibilities, it was added.
The meeting was also briefed that the process of setting up EV charging stations nationwide is progressing rapidly. An online portal was activated to receive applications for establishing charging stations, through which 120 applications were received. Of these, 48 have been issued interim registration documents. The regularisation process of existing charging stations has also been completed.
It was informed that the Power Planning and Monitoring Company (PPMC) had been established to improve the power sector.
The boards of several power distribution companies were restructured and are now fully functional.
The prime minister was briefed on the Matiari-Moro-Rahim Yar Khan and Ghazi Barotha-Faisalabad transmission lines, which had also attracted interest from the local and international financing institutions.
The meeting was also briefed on a roadmap for the complete elimination of Rs 2.4 trillion circular debt over the next six years.
Moreover, the plans were being prepared to provide soft bank loans for energy-efficient fans to promote electricity savings, allowing middle-class consumers to reduce their bills.
The meeting was attended by Federal Ministers Sardar Awais Khan Leghari, Ahad Khan Cheema, Ali Pervaiz Malik; PM’s Adviser Muhammad Ali; Minister of State Bilal Azhar Kayani; National Coordinator Power Task Force Lt. Gen. Zafar Iqbal; PM’s Coordinator Musharraf Zaidi and senior relevant officials.
