The Finance Ministry has agreed to release Rs 10 billion for the power sector. This consent was given by the new economic team at a high-level meeting held under the chairmanship of Prime Minister former Justice Mir Hazar Khan Khoso at PM's House convened to review the power situation in the country. The meeting was a follow up of an earlier meeting held last week in connection with excessive loadshedding in the country.
The meeting also noticed the concern of Caretaker Chief Minister Punjab on massive ongoing loadshedding in Punjab. The Ministry of Water and Power briefed the Prime Minister that current generation was hovering around 9000 MW against a demand of over 12500 MW. The Ministry presented a plan for the provision of oil and gas so that thermal power plants in the public as well as in the private sector could be utilised optimally.
Water and Power Ministry requested Ministry of Finance to provide additional funds for the provision of fuel to thermal power plants. The Ministry of Finance has agreed to release a sum of Rs 10 billion and promised a similar amount for provision of oil as and when required, said an official statement.
Earlier, Finance Ministry led by the then finance secretary, Nasir Khosa, had refused to give Rs 20 billion for the power sector on the instructions of caretaker Prime Minister which according to sources was one of the main reasons for his transfer to Ministry of Textile Industry.
The Prime Minister directed the ministries of Finance, Petroleum and Water and Power to ensure that they maintained close inter-ministerial co-ordination so that any issue that could impact on the power situation was addressed promptly. The meeting was attended by Minister for Water and Power, Dr Musadik Malik, Minister for Petroleum, Sohail Wajahat H. Siddiqui, Advisor on Finance, Dr Shahid Amjad Chaudhry and senior officials of the Ministry of Finance, Water and Power, Petroleum and Prime Minister's Secretariat.