Demand of electricity was increasing by 7 to 8 percent each year, he added.
He further said the duration of load shedding could be reduced substantially with the allocation of funds, Radio Pakistan reported on Saturday.
Kaira hoped that government would implement the Iran-Pakistan gas project.
Senator Tariq Azim said that Prime Minister Mian Nawaz Sharif had vowed PML-N government was focusing on energy crisis. The Prime Minister had promised to resolve the issue of circular debt within 60 days, he added.