Islamabad, Prime Minister Muhammad Shehbaz Sharif has issued directives to Pakistan’s energy sector to substantially increase the use of renewable energy, in an effort to slash the nation’s hefty oil import bill.
According to Ministry of Information and Broadcasting, the Prime Minister, during a meeting in Islamabad, highlighted the potential savings from pivoting to alternative energy sources such as solar, wind, and hydropower. Pakistan’s reliance on imported oil, which currently stands at twenty-seven billion dollars for power generation and transportation, could be mitigated by this shift.
Prime Minister Sharif praised the Punjab government’s crackdown on power theft and hoped other provinces would emulate these efforts. He noted that significant investment and enhancement of the power transmission network are critical to prevent losses in the energy sector. He also called for hiring top-tier consultants to recommend improvements to the power transmission and distribution systems.
In response to the devastation caused by recent torrential rains, Sharif expressed his condolences and tasked the National Disaster Management Authority with coordinating effective relief operations. Moreover, he instructed the energy ministry to convert imported coal-fired power plants to utilize local coal and emphasized that future power installations should focus on clean and low-cost hydropower and renewable options.
The briefing also covered a 600 MW solar power project backed by foreign investment, prompting the Prime Minister to urge for expedited foreign investment initiatives in the solar project. Additionally, he ordered the acceleration of GENCOs’ privatization and the auctioning of inefficient powerhouses, with the overarching goal of reducing electricity costs for the populace.