ISLAMABAD: During his budget speech, Finance Minister Senator Muhammad Aurangzeb highlighted important reforms and investments meant to improve efficiency and sustainability. He also listed critical emphasis areas for the energy industry.
Aurangzeb emphasized the ensuing top priorities:
Reduce Transmission and Distribution Losses: To increase overall efficiency, steps will be taken to reduce energy losses during transmission and distribution.
Nine Distribution Companies (DISCOs) are going to be privatized in an effort to boost their competitiveness and cut down on operational inefficiencies.
Reduce Theft: To prevent energy theft and guarantee that resources are used efficiently and revenues are safeguarded, stricter laws and enforcement procedures will be implemented.
Encourage Solar, Energy, and Wind: To improve energy security and diversify the energy mix, the government will encourage the use of renewable energy sources, such as solar and wind power.
To support these objectives, the federal budget has allotted Rs253 billion to the energy sector, demonstrating the government’s commitment to tackling energy-related issues and promoting a more durable and resilient energy infrastructure.
To avoid the impending default, the Pakistani government is now negotiating a $6 billion to $8 billion credit arrangement with the international lender.
