Power sector performance ?encouraging?

[ahlam1399]

ISLAMABAD: An International Monetary Fund (IMF) delegation, headed by mission chief Ernesto Ramirez Rigo, met Federal Minister for Power Omar Ayub Khan on Friday and reportedly appreciated the power sector’s performance, according to a press release.After holding a detailed discussion with the minister on the power sector’s performance, Rigo appreciated the efforts by the Division in meeting its targets. He also appreciated the Power Division’s efforts in formulating the new “Renewable Energy Policy”. He said power is an integral part of the IMF programme. He added that the power sector’s performance in their views is “encouraging” as they had a detailed discussion with various stakeholders.He also appreciated the shift toward utilisation of indigenous resources leading towards reducing the prices of electricity in the country that will ultimately benefit all walks of life.Ayub informed the delegation regarding historic achievements by the Power Division in record recoveries and reduction in line losses, said a press release. He said due to concerted efforts of the team Power Division, the circular debt has shown considerable reduction in its growth.It was growing with volume of Rs 38 billion per month and in eight months its growth at the end of last financial year was reduced to Rs 26 billion per month. In July 2019, the results are even encouraging as the growth is further arrested to Rs 18 billion per month.He said that a comprehensive campaign against power theft and defaulters by the Power Division is yielding these results. Ayub also appraised the delegation on the technical and system improvement measures undertaken by the Power Division in the Power Sector.He also informed the delegation about the new Renewable Energy Policy whereby the government intends to increase share of indigenous resources and cutting down the prices of the electricity for consumers , in addition to reducing dependency on imported fuels.“We intend to increase the share of indigenous resources upto 75 per cent,” he told Rigo. Secretary Power Division Irfan Ali and other senior officials of the Power Division were also present during the meeting.http://feeds.feedburner.com/~r/com/cwEr/~4/ZxI__3l7Dmc

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