Power Sector Losses Drop by Rs193B Boosting Privatization Drive
PM Chairs Key Energy Meeting, Praises Efforts to Cut Power Losses
Prime Minister Shehbaz Sharif led an important meeting of the Cabinet Committee on Energy at the Prime Minister’s House, according to an official press release.
He said that the recent financial improvements will help in the privatization of power companies. “Reducing losses is a big step for the energy sector. It makes privatization more possible,” the PM said.
He praised Power Minister Sardar Owais Ahmad Leghari, Power Secretary Dr Muhammad Fakhare Alam, and their team for their hard work. He also ordered appreciation letters for the heads of power companies that performed well.
According to the Power Division, power company losses have dropped by Rs193 billion, and the total improvement is Rs242 billion. The best-performing companies in reducing losses are LESCO (Lahore) and MEPCO (Multan). However, the country’s circular debt is still Rs780 billion.
The Cabinet Committee also approved changes in the National Electricity Plan. Now, wheeling charges are fixed at Rs 12.55 per kilowatt, and bidding prices will be part of future deals.
The meeting was informed that the Independent System and Market Operator (ISMO) is now working. New Market Operations departments have also been set up in NTDC and different power companies, helping Pakistan move toward a market-based electricity system.
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