The government of Punjab will invest in 200MW coal power plant at DG Khan which will be handed over to the private sector afterwards, Consultant to Chief Minister Punjab on Economic Affairs and Vice Chairman Punjab Board of Investment and Trade (PBIT) Pir Saad Ahsanuddin said here on Monday.
According to the spokesperson of PBIT, Ahsanuddin was giving the details of the final recommendations made at energy roundtable conference organised by PBIT recently. The recommendations were made after the closed door discussion, which was attended by the Chief Minster of Punjab, Federal Minster of Water & Power and experts from international agencies, local investors from the power sector and sugar mills, representatives of leading financial institutions and various foreign delegates from Greece, UK, UAE, Oman and Dubai.
He said that a few days ago PBIT made some agreements worth over US $600 million at the Punjab Investor Conference in Karachi. During the discussion CEO Orient Power Company Ltd and Chairman Punjab Power Development Board (PPDB) Nadeem Babar gave delegates an overview of the current crisis and identified the myths that surround the power sector of the country.
He advocated for the market forces to determine the tariffs, and said that the current circular debt and the wider circle of mismanagement is resulting directly from forced tariff structures, and said that the way forward for the country is to either swallow the bitter pill and pass the cost on to consumers, or alternatively let the industry continue toward the path of bankruptcy.
Comments
Comments are closed.