Federal Minister for Education and Professional Training Shafqat Mehmood has said that circular debt in energy sector has surpassed Rs2,000 billion in the country, however, it will be reduced due to new agreements with IPPs.
Federal Minister for Education Shafqat Mahmood was addressing the inauguration of 220 KV Grid Station on Ghazi Road here in here metropolis on Monday.
In his address, the minister pointed out most problems which the people of his constituency bring to him as MNA for resolution related to electricity. The people analyze and assess the performance of the government in terms of supply of electricity and energy related matters. “Our real target is to satisfy the people and vigorous efforts are underway to sort out all problems pertaining electricity,” he elaborated.
The PTI leader claimed that in the past, national interest was not kept in view while signing electricity agreements, adding that the incumbent government committed to resolving the problems it have inherited from the previous governments.
“We are not opposed to IPPs, rather bringing betterment in the matters by balancing the agreements executed with them in the past,” he said, adding that the government had inherited circular debt amounting to Rs1,500 billion when it took over the power. “This circular debt has now swelled above Rs2,000 billion, but the new agreements with IPPs will curtail the circular debt,” he assured.
The federal minister said the incumbent government is making concerted efforts to resolve energy crisis from the country. He further said the Pakistan Tehreek-e-Insaf (PTI) government had signed a new agreement with Independent Power Producers (IPPS) to bring down the cost of electricity generation.
“The energy crisis first emerged in the 1990s and previous regimes had brushed aside national interest while making agreements with power distributors in past,” added Shafqat Mehmood.
The minister said more dams are being constructed in the country to increase the production of low-cost electricity. The PTI government has been utilizing all resources to eliminate all longstanding problems faced by the masses and no negligence will be tolerated in this regard, he declared. He said that under the vision of Imran Khan, the government will transform the country into a real welfare state.
