Govt approves a new system for the provision of electricity & a uniform tariff for the SEZs & Industrial Estates
ISLAMABAD, Jan 14 (SABAH): The government has approved a new system for the provision of electricity and a uniform tariff for the Special Economic Zones and Industrial Estates to ensure industrial development in the country.
The approval was granted at a meeting of the Cabinet Committee on Energy, which met in Islamabad with Prime Minister Shehbaz Sharif in the chair.
The meeting further allowed single-point power supply to Industrial Estates and Special Industrial Zones and their management to provide self-connection, bill collection and other matters.
Under this system, the interference of officials of the power distribution companies in the special industrial zones and industrial estates has come to an end. In this regard, a specific operations and management mechanism is being evolved as the Power Division and NEPRA will start implementing this mechanism in next three months.
Under the system, the zone developers will not require any additional license to supply power to the industries in the zones.
Speaking on the occasion, the Prime Minister said industrial development is vital for country’s development. He directed to apply the new system to all special economic zones.
The Prime Minister said provision of electricity to industries at a uniform tariff will supplement the pace of industrial development in the country, resulting in more employment opportunities and surge in exports.
Highlighting the benefits of improving the power transmission system, Shehbaz Sharif said industries will play their key role in the further development of country’s economy.
According to the circular debt’ report from July to November last year, it is reported that a decrease was witnessed in the circular debt during the first five months of the current financial year, compared to the previous financial year.
The meeting was informed that there was an increase of 368 billion rupees in the circular debt from July to November 2023, whereas in the first five months of 2024, there was a decrease of 12 billion rupees. The meeting was apprised that there is a total improvement of 380 billion rupees in the circular debt in the ongoing fiscal year as compared to last year.
It was told that with the increase of four percent, the receipts of power sector touched ninety six percent during the first five months of current financial year.
Additionally, a decrease of fifty-three billion rupees was witnessed in the losses of electricity distribution companies after bringing improvement in them.
Moreover, the overall prices of electricity reduced by four point six four rupees in the current financial year, which became possible after the reforms.
The Prime Minister said the process of introducing reforms in the power sector is underway rapidly and its dividends are continuing to come. He said measures are being taken for provision of cost effective, eco-friendly and uninterrupted power supply to general public.
Shehbaz Sharif said steps are being taken to further reduce the cost for electricity consumers by revising the contracts of Independent Power Producers.