''Future renewable energy investments must be treated in line with RE Policy 2019''

The Cabinet Committee on Energy (CCoE) has approved Power Division''s proposal that all future renewable energy (RE) investments should be treated in line with the RE Policy 2019 that envisages a framework consistent with the current international market and greater consumer benefits.
The meeting was presided over by Finance Minister Asad Umar on Wednesday. The Power Division informed the meeting that draft RE Policy 2019 was currently in circulation for comments by stakeholders and would be presented to the CCoE as soon as such comments are finalised.
All those projects which have been granted Letter of Support (LoS) by AEDB will be permitted to proceed towards the achievement of their requisite milestones as per the RE Policy 2006.
However, in those cases where more than a year has elapsed since determination of tariff by NEPRA, their tariff would have to be reviewed by NEPRA as per policy. The Power Division also gave the meeting a performance update on efficiency improvement and control of theft.
The meeting was informed that total collection of power sector from November 2017 to January 2018 stood at Rs 203,953 million which rose to Rs 243,642 million in the same period in fiscal year 2018-19, showing net increase of Rs 39,689 million. The meeting was further informed that improved recovery from consumers and decrease in losses significantly contributed to the enhanced collection.
Regarding control of theft, the CCoE was apprised that during the period from October 13, 2018 to February 22, 2019, as many as 20,712 FIRs were registered and 1,909 arrests were made. Detection bills charged amounted to Rs 1,278.305 million while the amount of detection recovered was Rs 537.120 million. The CCoE appreciated the Power Division''s effective drive for recoveries and theft control. The meeting also noted the progress shared by the Power Division on proposed plan/measures to bring down power sector losses.
Petroleum Division told the CCoE about findings of the committee probing into the matter of inflated gas bills. It was also informed that report of audit being conducted in this matter will also be shared with the CCoE.