I congratulate the Attock Group of Companies on this auspicious occasion to inaugurate their 165 MW Attock Gen Limited (AGL) power plant.
This is indeed an important milestone in the expansion of Pakistans power sector and PPIB is proud of its role in making it happen, more so as the AGL Power Project will be the first IPP to be commissioned under the Power Policy 2002 and AGL will utilise Low Sulphur Fuel Oil (LSFO) produced by Attock Refinery Limited from indigenous crude, which is environment friendly.
Availability of power supply is a pivotal factor in achieving sustainable economic growth. Out of the 162 million population of Pakistan, only around 65-70% has access to electricity. Present Government is committed to providing electricity to the maximum number of people in the shortest time possible.
At present the country is facing power shortages of approximately 2,500-3,000 MW and it is expected that the gap will continue to become wider owing to consistent growth in demand (6-7% per annum). The Government of Pakistan (GOP) is fully conversant with the future power demands and is making all-out efforts to arrange addition in power generation capacities on fast track basis.
PPIB, created in 1994 is the dedicated interface of the Government of Pakistan for the purpose of facilitating investors in the private power sector, and provides a one-window facility to them. PPIB has a unique track record of facilitating establishment of 15 IPPs ie 4300 MWs with a private investment outlay of US $4 billion under the power policy of 994.
Now under the power policy of 2002, ten (10) IPPs with a cumulative capacity of 2200 MW have achieved Financial Close and started project construction after getting approval of tariff from NEPRA. These IPPs are sponsored by local as well as foreign investors. In addition to this PPIB has initiated international Competitive biddings (ICB) for IPP and rental projects to cater for the immediate power shortfall.
The entry of the Attock Group of Companies, with a 90 year track record in the oil sector into the power sector is a welcome step. PPIB appreciates Attock Group of Companies dedication and commitment to fulfil its obligations and responsibilities in timely implementation of its Power Project, which will definitely help in augmenting the power shortfall in the country.
We hope this will enable them to play a more active role in the integrated development of the energy sector of Pakistan. It is hoped that AGLs power project, the first oil based power plant approved under the GOP 2002 Power Policy shall serve as a role model for others to follow. My best wishes to Attock Group of Companies. God bless Pakistan.