Minister briefs US Chargé d’affaires on yields of prudent economic policies

Mohammad Arshad

Federal Minister for Energy Muhammad Hammad Azhar has said that immense growth in demand electricity up to 20% has been witnessed this year of which the industrial demand is well above 12% to 13%.

Talking to the US Embassy Chargé d’affairess, a.i. Lesslie Viguerie, in a call on at the Power Division here on Monday, he said that the increase in demand is a very positive sign not only for the entire economic health of the country but also for the energy sector as it has boosted the confidence of investors.

Secretary Power Division Ali Raza Bhutta, Daniel Froats Economic Counselor US Embassy and other senior officials were present during the meeting.

Hammad Azhar informed the US Embassy Chargé d’affairess that due to prudent policies and effective measures undertaken by the present Government, the growth of Circular Debt has been reduced by Rs. 200 Billion this year as compared to previous year.
He said that once the growth is arrested, it will be easy to take decision for clearance of stock.

The Federal Minster also briefed about the approximate 800 million Dollars investment that Pakistan has made in expansion and improvement of country’s Transmission and Distribution system in two and half years which led to record transmission of more than 4000MW this year.

He said that another 117 Million Dollar have been earmarked for next financial year for improvement of Transmission and Distribution system.

He invited the US based companies to explore possibilities of investment in the energy market.

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