Power generation hits fresh peak in FY21

Rises 7% on back of pickup in economic activity, industrial power package


Our Correspondent July 18, 2021
PHOTO: EXPRESS

KARACHI:

Pakistan’s power generation hit a new peak in fiscal year 2020-21 as it rose 7% to 130,223 GWh on the back of revival of economic activity coupled with industrial power package announced by the government in November 2020.

According to a report from Topline Securities, the country produced 121,867 GWh power in fiscal year 2019-20.

“Power generation started to increase from December 2020 owing to announcement of industrial power package by Prime Minister Imran Khan,” said Topline Research analyst Sunny Kumar. “One of the main features of package was removal of peak hours till April 30, 2021 which the government has extended till June 2022.”

Moreover, the leadership has also offered 50% discount for small and medium size industries on consumption of additional power compared to their previous bills in the same period last year till June 30, 2021. The incentive package also allowed 25% discount for all industries on consumption of additional power compared to their previous bills for next three years.

“Economic activity in Pakistan improved after lockdown was lifted,” Kumar said.

The LSM index grew 14.57% year-on-year during the first 11 months of fiscal year 2020-21.

Published in The Express Tribune, July 18th, 2021.

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