Power woes: Govt focused on tackling energy crisis, says Dar

Finance Minister Ishaq Dar says govt will facilitate investment into the key sector.

WASHINGTON:

Finance Minister Ishaq Dar has said Islamabad is fully focused on addressing the energy challenges facing the country and will facilitate investment into the key sector. He was speaking at a discussion hosted by the Business Council of International Understanding that includes members from more than 150 world-leading companies and is dedicated to promoting dialogue and action between the business and government communities.

Since its inception, the Prime Minister Nawaz Sharif-led government in Islamabad has taken the lingering issue of energy shortages head on, and is working to overcome energy shortfall through a focused approach, he said. In this respect, he referred to efforts to utilise a variety of available resources, including water, as well as regional connectivity and encourage investment into the sector to bridge the 4000MW gap between production and supply for domestic users as well as the industry.

Dar noted at the discussion, which was moderated by US expert Teresita C. Schaffer, that Islamabad’s payment of a hefty circular debt at the start of the government’s tenure helped add 1700MW of electricity to the national system. This helped revive economic activities and mitigated the sufferings of consumers. He underlined the importance of using low-cost fuels for power generation and renewed Islamabad’s pledge to facilitate investors in setting up production units.

The finance minister was confident that the government would be able to greatly improve the energy scenario in the next few years, as it is working devotedly towards achieving both short-term and long-term goals.

Published in The Express Tribune, April 12^th, 2014.