Islamabad: Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar, chaired a meeting to review progress on reforms in the Power sector.
Federal Minister for Economic Affairs Division Makhdum Khusro Bakhtyar, SAPM on Power and Petroleum Tabish Gauhar, Secretary Finance Division, Secretary Power Division, Secretary Economic Affairs Division and other senior officers participated in the meeting.
Secretary Power briefed the Finance Minister about the efforts being made for reformation of the Power sector with a view to provide maximum relief to the electricity consumers. The key focus of the reform process is to bring efficiency, cost effectiveness and sustainability in the system. A consultative process is being followed to ensure all stakeholders are on board, he added.
The Finance Minister was also updated about the Circular Debt Management plan and related matters.
The Finance Minister commended the efforts made to set the future direction of the Power sector. The unaffordable cost of electricity generation, circular debt build-up and leakages in the transmission system had made the Power sector financially challenging, he added.
After seeking input from all concerned, the Finance Minister stressed to follow a structured approach for timely completion of envisaged reforms. He stressed that time is of essence for reduction in Circular debt, upgradation in transmission and distribution infrastructure and improved service delivery in the Power sector and stated that facilitating the common man was the top priority for the government, he concluded.