Gilani directs Finance Ministry to release Rs1.5b to WAPDA

Prime minister holds meeting with PPIB, reviews ongoing electricity crisis in the country.

ISLAMABAD: Prime Minister Yousaf Raza Gilani, presiding over a meeting of Private Power Infrastructure Board (PPIB) to review progress on private power projects, directed the Finance Ministry to urgently release Rs1.5 billion to Water and Power Development Authority (Wapda) to settle the remaining claims of IDPs.

The Wapda Chairman told the meeting that the Mangla dam would be full up to its capacity for the first time after completion of the Mangla Wall-Raising Project. He said that the project would not only make 2.9 MAF more water available, but also make a contribution of Rs18 billion per annum to the country’s economy.

Gilani also directed that a committee consisting of Deputy Chairman of Planning Commission, and the Secretaries of Finance, Economic Affairs Division, and Water and Power should be set up to facilitate the simplification of procedures aimed at attracting private sector investment in the energy sector.

The prime minister also reviewed future portfolio of PPIB with a view to increase power generation to overcome the ongoing electricity shortage in the country. He said that the PPIB will continue to maintain its professional excellence and facilitate the national, international entrepreneurs and energy sector players to join hands with the government to bring prosperity to the people of Pakistan.

He said that the IPPs had always played a pivotal role in developing the power sector. “It is evident from the fact that presently there are 28 IPPs providing reliable power in the country,” Gilani maintained.

He added that Pakistan’s power sector is presently facing a wide power demand-supply gap, which has necessitated enhancement of generation capacity as well as related infrastructure.

He further said that in order to meet future power requirements in the country, huge investments are required.

While giving a presentation, Managing Director of PPIB said that 28 projects of PPIB with a capacity of 8,000MW have been installed in the country.

The prime minister directed the Ministry of Petroleum and Natural Resources to make arrangements for the release of provision of gas to power plants, which are currently in operation.