Pakistan Energy Scheme: In view of the increasing tension with India, Pakistan has signed ‘Energy Scheme’, making a major change in its energy policy. Prime Minister Shahbaz Sharif on Wednesday approved the revised 10 -year National Electrical Procurement Policy. The main objective of this scheme is to reduce energy costs and reduce dependence on expensive long -term contracts. With this decision, the Pakistani government will now buy only 7,000 MW of electricity instead of procurement of 14,000 MW power already employed. The government is expected to save 4.743 trillion rupees (about 17 billion dollars) from this change.
Pakistan’s cost -effective energy policy after Kashmir tension
The tension between India and Pakistan has increased after the attack in Pahalgam in Kashmir. India has taken a tough stand against Pakistan, increasing international pressure on Pakistan. In such a situation, the Shahbaz government has now focused on reducing domestic expenses.
In connection with this decision, a statement issued by the Prime Minister’s Office said that the main objective of the government is to improve continuous improvement in the energy sector and reduce electricity rates. The Prime Minister presided over a high-level meeting to review the Integrated Production Capacity Extension Scheme (IGCEP) 2024-2034.
Warning to set up ‘free electricity market’
During the meeting, Prime Minister Shahbaz Sharif said that “any kind of delay in power projects is unacceptable” and he also ordered the Dyyer Language Dam Project to be completed on time. He also clearly stated that “Pakistan is moving towards setting up a free electricity market soon”, which will increase the competition in power supply and reduce prices further.
Expensive projects end, relief in electricity rates
The government has canceled 7,967 MW expensive power projects, which will help reduce financial burden in future. The Energy Minister also stated that “this policy change will provide relief to consumers from the rise in rising electricity prices” and will reduce domestic and commercial costs. The Prime Minister praised the efforts of Energy Minister Sardar Awas Leghari and his team, describing this policy as “historic success for Pakistan”. Senior officials of Energy, Information, Finance and Petroleum Ministries were also present in the meeting.
Guidance in decision making in economic crisis
At a time when Pakistan is struggling with a serious economic crisis, this decision in the energy sector will help in the financial management of the government. The decision taken in the backdrop of tension with India is being seen as a symbol of a change in Pakistan’s strategic and economic approach. Experts believe that this energy scheme is not only limited to cost reduction, but it is also an important step towards self -reliance, stability and market -based policy in the energy sector.
