Pakistan Circular Debt reaches Rs 755 billions

Pakistan Circular Debt reaches Rs 755 billions

ISLAMABAD: Ministry of Power Division on Tuesday informed the Public Accounts Committee (PAC) that the amount of circular debt had reached to Rs 755 billion. The Committee met at Parliament House with Leader of the Opposition Muhammad Shahbaz Sharif in the chair.

Secretary Ministry of Power Division while giving briefing to the committee said that presently the country’s installed capacity of the electricity was 33,836 mw, while the derated capacity was about 31,000 mw.

He said that in 2008 the installed capacity of the electricity was 17,796 which had reached to 33,836 mw at present.

The secretary said that presently the country was generating about 27 percent from hydel, 26 percent from RLNG, 16 percent from oil, 20 percent from gas , five percent from nuclear and five percent from renewable sources.

The committee was informed that seven energy projects under China Pakistan Economic Corridor had been providing 3,340 megawatts energy to the national grid.

He said that Sahiwal Coal fired plant, Dawood Wind Farm, Quaid-e-Azam Solar, UEP wind Farm, Sachal Wind Farm, Port Qasim Power plant and three gorges second and third wind farms had been completed under the CPEC.

The secretary said that Suki Kinari HPP, Korot HPP, Engro Thar Block-II coal fired power plant, TEL Mine Mouth Thar Block-II coal fired power plant and CPHGC coal fired power plant having capacity to generate about 3900 mw, were under construction.

He further said that about eight more power projects including SSRL coal, Thal Nova power, Kohala HPP, Cacho wind, Western Energy wind, Coal fired plant at Gwadar and Oracle power having the 5094 generation capacity were in various stages of completion

He said that new renewable energy policy would be in operation by March 2019 after due consultation with the provinces and approval by the Council of Common Interests . He said the new policy would be focused on generating at least 20 percent of the total energy mix from renewable energy by 2025 and 30 percent by 2030.

He said upgradation of the national grid as well as introduction of regional grids would be important element of the policy.

The chairman PAC apprised the members that he had completed two LNG run power projects during his tenure in the Punjab province as the chief minister. The electricity generated through two power plants was being provided to national grid stations, he added.

Responding to various questions by the parliamentarians, the secretary said that presently the total demand of the electricity was 8,000 to 11,000 megawatts. He said that per capita electricity usage in Pakistan was less as compared to India and Bangladesh.

The secretary said that 23 percent of total population was without electricity. - APP