Renewable energy policy 2019 due out next month

Power minister says open and competitive electricity market to be created

APP March 13, 2019
Power minister says open and competitive electricity market to be created. PHOTO: FILE

ISLAMABAD: The government is allocating top priority to provide energy to every corner of the country for robust economic growth and in this regard the new renewable energy policy 2019 will be announced next month, disclosed Minister for Power Omar Ayub Khan.

Addressing students at the ‘International Conference on Sustainable Energy in Pakistan’ on Tuesday, the minister declared that open and competitive electricity market was being envisaged for the first time in Pakistan.

He was of the view that such a market would encourage regional electricity trade besides offering countless investment opportunities to entrepreneurs. “Pakistan’s energy market has opportunities worth over $60 billion in transmission and distribution lines with generation side alone possessing $40 billion potential,” he said. Khan revealed that Saudi Arabia would invest $14 billion in the energy sector in the next few years.

Saudi Arabia keen to invest in renewable energy in Pakistan

Underlining that tremendous innovation prospects existed in the energy sector, he urged academia and the students to collaborate in a bid to enhance the per capita energy demand of people.

According to him, 25% of Pakistan’s population still had no access to energy.

Stating figures, Khan informed that the country’s energy mix consisted of 60% thermal, 30% hydel and 10% other resources.  In this regard, the minister emphasised that efforts were underway to increase the percentage of renewable energy in the mix and to elevate its share to 18,000MW. “High transmission lines of 500KV and 220KV face tripping issues due to smog,” the minister lamented and added that ministry was actively working to overpower this problem.

Published in The Express Tribune, March 13th, 2019.

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