Minister claims reforms introduced to improve efficiency of energy sector 

Minister claims reforms introduced to improve efficiency of energy sector.

While participating in the budget debate in the National Assembly on Monday, Minister for Economic Affairs Omar Ayub Khan said.

Minister claims reforms introduced to improve efficiency of energy sector

He said the previous government of PML (N) signed expensive power contracts. Due to that, country continues to bear the brunt of it in the form of capacity payments.

Moreover, he said the government has introduced deep seated reforms to improve the efficiency of the energy sector.

The minister said the PML (N) government also abandoned renewable energy projects of four thousand megawatts.

He said we gave the renewable policy and revived the renewable energy projects to improve their share in the energy mix.

This, he said, will accrue a benefit of Rs 4000 billion to the country in the next fifteen years.

The Minister for Economic Affairs said the PTI government signed a cheaper LNG agreement with Qatar.

That will help the country save 3.5 billion dollars in ten years.

He said we have made massive investments in the power distribution and transmission system.

Besides, govt is also taking steps to address the issue of circular debt.

Meanwhile, Raja Pervez Ashraf of the PPP also spoke.

He called for efforts to ensure food security saying this is important for the development of the country.

Furthermore, he said the budget envisages no incentives for the farmers.

He further aid the proposal of granting arrest powers to the FBR should be withdrawn as it will only pave way for harassment of taxpayers.

GTV