Under National Electricity Policy 2021, people will get cheap and environment-friendly electricity at a low cost, Hamad Azhar.
ISLAMABAD: Federal Minister for Energy Hamad Azhar has said that the Council of Common Interests has approved the National Electricity Policy, under which it will provide cheap and environmentally friendly electricity at low cost, 10 to 12 policies will be formulated for sub-sectors, new electricity policy for 10 years. Is for He said in a media briefing after the meeting of the Council of Common Interests that the Council of Common Interests has approved the national electricity policy, the new electricity policy is for 10 years, 10 to 12 policies will be formulated for the sub-sectors.
Talking to the media, Federal Minister Hamad Azhar said that today is a historic day that all the provinces have approved the new electricity policy and this year Rs 100 billion has been allocated for improving the power distribution system.
Hamad Azhar said that no long-term policy has been formulated in the power sector in the past, while implementing power projects it was not seen where they were being installed, but power generation and transmission would be taken in the right direction, transparently under the policy. Power plants will be installed, measures for alternative energy are being considered. The new policy will now provide affordable and environmentally friendly electricity at a low cost.
Principles are being formulated under the National Electricity Policy. It is now a ten-year policy. It will also accommodate local fuels. All private investors will be invited under the open strategy. There was a lot of negotiation while formulating the policy. Not only power generation but also finance is a big problem for us. 800 billion to 1500 billion has to be paid annually to power plants, which increases revolving loans, as well as outdated transmission systems and revolving loans. The big challenge is, we have laid the groundwork to solve problems as we plan for the future. The next step will be to develop a National Activity Plan based on the principles set out in this policy.
He said that if this policy had been enacted 15 years ago, the energy sector would not have been in trouble today. Hamad Azhar further said that the transmission system is outdated and electricity is expensive today due to expensive contracts in the past.
