Federal Finance Minister Senator Muhammad Aurangzeb said the government is strongly focused on saving energy and keeping the economy stable. He highlighted an important program to replace old fans with new energy-saving ones.
He led a meeting to check if everything was ready for the program. The Prime Minister is very interested in making this program successful.
This program is important because it will help save electricity, include more people in the economy, and benefit the country overall. The first part of the program will start by the end of July.
The Finance Minister said the program can help people use less electricity at home by giving them new, energy-efficient fans.
The goal is to replace 88 million old fans with new energy-saving fans across Pakistan. These old fans make up about 60% of all 147 million fans in use. This program will take 10 years and is supported by a fund of Rs 2 billion.
Finance Minister Talks About Fan Replacement Program to Save Energy
People will get new loans through loans from banks, and they will pay back the loans through their monthly electricity bills. The government will help by guaranteeing 10% of the loan to reduce risk for banks. The interest rate will be low, making it easier for people to afford.
The National Energy Efficiency and Conservation Authority (NEECA) is in charge of running the program. They have already made agreements with banks and set up the system. Other organizations like the Punjab Technology Investment Board and Power Information Technology Company are also helping.
This program will save a lot of electricity during the hot summer months, around 6,000 to 7,000 megawatts, which will help reduce the strain on the power system.
Minister Aurangzeb praised everyone involved, especially the banks, and asked them to finish preparations in the next 2-3 weeks so the program can start smoothly.
This fan replacement program is a key part of the government’s bigger plan to save energy, improve the economy, and help people pay less on their electricity bills.
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