Govt taking measures to resolve energy crisis: Dar

Nov 30, -0001

ISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar Thursday said the government was taking all possible measures to ensure energy security and sustainable development in the country.

"Energy sector, which was neglected for over a decade, has been given a new lease of life by our Government", Dar said while addressing on the occasion of launching of Lighting Pakistan Program here organized by International Finance Corporation (IFC).

He said major initiatives now underway in terms of power generation, transmission system upgrades, LNG, diversified fuel based projects as well as alternative and renewable energy projects will transform the landscape of the Power sector within the next three years and this should add 1.0% to 1.5% to Pakistan's GDP growth rate.

Dar said the Alternative Energy Development Board (AEDB) has been pursuing the development of renewable energy power projects through the private sector in the country.

"As a result, more than US$ 1 billion investment has been made alone in the wind energy sector in the last couple of years", he said adding five wind power projects with a cumulative capacity of 255.4 MW are operational at the moment and another eight wind power projects having a cumulative capacity of 429 MW are under construction.

Two bagasse based projects with a cumulative capacity of 52 MW are also operational, he added.

He said the AEDB has undertaken a number of other supportive measures in order to promote alternative and renewable energy technologies and to attract private sector investments. – APP

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