Maps
Magazine

TRADE & ECONOMY

PM Shehbaz Sharif Prioritizes Diamer-Bhasha Dam & Free Market for Electricity Production
PM Shehbaz Sharif directs priority completion of Diamer-Bhasha Dam & the creation of a free electricity market to lower tariffs & ensure a sustainable supply. Reforms set to save Rs 4743 billion!
ND
by News Desk
2025-05-01
PM Shehbaz Sharif Prioritizes Diamer-Bhasha Dam & Free Market for Electricity Production

Prime Minister Shehbaz Sharif has emphasized the urgent need to complete key energy projects, including the Diamer-Bhasha Dam, to bolster Pakistan's energy production and water storage systems. During a meeting held in Islamabad, the Prime Minister highlighted the establishment of a free market for electricity production, aimed at making energy supply more competitive and ensuring a sustainable reduction in electricity tariffs.

The meeting, chaired by PM Shehbaz Sharif, was attended by senior government officials, including Energy Minister Sardar Owais Leghari, Economic Affairs Minister Ahad Khan Cheema, and Petroleum Minister Ali Pervez Malik. The Prime Minister was briefed on the ongoing reforms in the energy sector, including a review of the Integrated Generation Capacity Expansion Plan (IGCEP).

The briefing revealed that after extensive work, the task force had successfully revamped the plan to reflect ground realities and future energy needs. As a result, expensive projects totaling 7,967 megawatts will be removed from the power generation plan, leading to a significant cost-saving of $17 billion (Rs. 4743 billion). The dates for several power generation projects are being adjusted to align with new timelines, optimizing the overall plan.

Furthermore, the government will prioritize local energy reserves and alternative energy sources such as solar, nuclear, and hydroelectric power over costly imported fuels. This shift is expected to save billions in foreign exchange reserves, ultimately benefiting the national economy. The government’s strategy also involves gradually phasing out the purchase of electricity and capacity payments to power generation companies.

In his remarks, Prime Minister Shehbaz Sharif praised the efforts of Federal Minister for Power Sardar Owais Leghari and his team for their successful efforts in saving Rs. 4743 billion for the country, describing it as a historic achievement. He also acknowledged the recent reduction in electricity tariffs by Rs. 7.50 and reiterated the government’s commitment to further reforms in the energy sector.

The Prime Minister directed that energy projects, particularly the Diamer-Bhasha Dam, be completed on priority to establish a robust energy production system and ensure abundant water storage. He made it clear that any delays in the completion of energy projects would not be tolerated.

In conclusion, the Prime Minister confirmed that a free market for electricity production would be established soon, which would lead to competitive pricing, ensuring a sustainable supply of electricity and further reductions in tariffs for the benefit of the people.
Tagged:

DiamerBhashaDam

PakistanEnergy

EnergyReforms

ElectricityMarket

PowerGeneration
Share News: