ISLAMABAD: In positive economic development, $4 billion to be injected inPakistani economy.
Federal Minister for Power Omar Ayub Khan on Monday said that a Saudicompany has expressed interest to invest $4bn in renewable energy sector ofthe country.
Responding to a call attention notice in the National Assembly, Omar Ayubsaid that owing to the corrective measures taken by the PakistanTehreek-e-Insaf (PTI) led government, the revenue of the Ministry of Powerhas increased to Rs229bn in one year.
The minister said that Rs112bn were generated through recoveries and takingaction against the power pilferage. The minister maintained that 7,000people involved in the pilferage were arrested.
Umer Ayub said, “We have reduced the flow of circular debt to ten to twelvebillion rupees per month from Rs39bn left behind by the PML (N) government.”
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The minister said 80 per cent of the total feeders have been cleared ofload shedding and added that a significant progress has been made inexploiting the wind, solar and biomass potential available in the country.
Holding past governments responsible for on prevailing gas shortfall in thecountry, the minister revealed that no gas exploration project was launchedin last 10 years.
