Rs 180 billion inter circular debt to be swapped by next week: Naveed informs National Assembly

Minister for Water and Power Syed Naveed Qamar has said that Rs 180 billion inter circular debt would be swapped by next week to eliminate the financial burden of Independent Power Producers (IPPs). Speaking in response to a point of order raised by Ahsan Iqbal of Pakistan Muslim League (N) in National Assembly, Naveed Qamar said that financial burden of IPPs would be eliminated after the debt swap.
He said that various other measures have also been taken by the Federal Cabinet to tackle with the energy crisis in the country. The subsidy for the power sector, he added, has been increased to Rs 25 billion to add 1200 MW electricity in the system in next few days. The minister said that additional subsidy has been granted from the budget to produce the electricity from power plants that operate on High Speed Diesel (HSD).
Naveed Qamar said that despite pressure, the government was making progress on Iran-Pakistan Gas Pipeline (IP) project and tender would be issued in next few days for construction of pipeline and project for 500 MMffd LNG import would be completed in the current fiscal year. He said that the first LNG project could not be implemented because the issue was taken to the Supreme Court and government is working on another project to import 500 MMcfd LNG.
Naveed Qamar also informed the House that Prime Minister is going to inaugurate Kunnar gas on Monday that would add 100 MMcfd gas in the system in the first stage and requested the opposition not to gain political mileage from the energy crisis which was national issue.
Earlier, speaking on a point of order, Ahsan Iqbal said that capacity of 4000MW was unutilised because the government was not able to provide fuel to the IPPs. He said that the government was appointing its cronies in the power distribution companies, which was the major reason of bad governance and increase in line losses during the last four years.
You have kept capped gas discoveries of 350 MMcfd and failed to import LNG project, he said, adding that the government incompetence and corruption was responsible for the energy crisis in the country. Ahsan Iqbal said that coalition partners of the government are equally responsible as they are providing oxygen to the inefficient and corrupt regime, which had made life of common man miserable. He also urged the coalition partners to leave the government and join hands with the opposition to get rid the country of incompetent and corrupt government.