ISLAMABAD, Pakistan: The Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar chaired a meeting in Islamabad on Friday to review progress on reforms in the Power Sector.
The Federal Minister for Economic Affairs Division Khusro Bakhtiar, the Prime Minister’s Special Assistant on Power and Petroleum Tabish Gauhar, the Secretary Finance Division, the Secretary Power Division, the Secretary Economic Affairs Division and other senior officers participated in the meeting.
The Secretary Power briefed the finance minister about the efforts being made for the reformation of the Power Sector with a view to provide maximum relief to the electricity consumers.
The key focus of the reform process is to bring efficiency, cost-effectiveness, and sustainability in the system. A consultative process is being followed to ensure all stakeholders are on board, he added.
The finance minister was also updated about the Circular Debt Management plan and related matters.
Hammad Azhar commended the efforts made to set the future direction of the Power Sector. The unaffordable cost of electricity generation, circular debt build-up, and leakages in the transmission system had made the Power sector financially challenging, he added.
After seeking input from all concerned, the finance minister stressed to follow a structured approach for timely completion of envisaged reforms.
The finance minister stressed that time is of the essence for a reduction in Circular Debt, up-gradation in transmission and distribution infrastructure, and improved service delivery in the Power Sector, and said that facilitating the common man was the top priority for the government.