Islamabad: The Pakistani government, led by Energy Minister Awais Leghari, has unveiled a comprehensive plan to settle the nation’s circular debt in the energy sector within the next six years. As part of a broader 10-year strategy under the national electricity policy, the government aims to curb high-cost power purchases from generation companies.

In a news conference held in Islamabad, Minister Leghari outlined that the 10-year plan will be presented to the Prime Minister within the next fortnight. The strategy includes renegotiating contracts with 36 independent power producers (IPPs), with ongoing discussions for the remaining agreements.

The Rahim Yar Khan-Matyari Transmission Line, a key infrastructure project, will be completed through a public-private partnership, the minister announced. Additionally, he stated that 27,000 tubewells will transition to solar power within seven months, and there is consideration of converting gas-run power plants to coal.

The government is also accelerating the privatization efforts of major power distribution companies, including Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO), as part of its reform agenda.