ISLAMABAD – Federal Minister for Petroleum Umar Ayub has said thegovernment aiming to develop solar power plant of 2,000 megawatt inBalochistan and through this project the investment of $14 billion willcome to the country.
He on Monday further announced at the floor of the upper house that thecircular debt will be zero by December 2020.
The incumbent government inherited circular debt of Rs230 billion in SuiSouthern and Sui Northern Gas companies whereas Rs450 billion in the powersector, he said.
Concluding a debate on the adjournment motion on recent increase onpetroleum prices he said, Pakistan is a net importer country of crude oiltherefore, it completely depends on international prices.
He said the oil price in the international market was 27$ per barrel in2014 but the government of the day instead of decreasing, imposed 56% salestax and in comparison, to this day the oil price in the internationalmarket is 72$ per barrel but the government is charging only 17% tax.
The minister further said the government refused to accept Oil and GasRegulatory Authority’s advice on petroleum prices during the last eightmonths and gave a relief of Rs52 billion to the people which itself is arecord.He said in comparison to India, Bangladesh and Sri Lanka, the oil price inPakistan are still low whereas United Arab Emirates which is an oilproducing country, increased the oil prices.
The minister said National Electric Power Regulatory Authority in Septemberlast year had asked the government to increase power tariff by Rs3.84,however, the prime minister directed not to pass on the prices to thepeople.
He said the government increased power tariff by Rs1.27 as whole whereasthe consumer under 300 units were exempted from the increase.
The minister said the crackdown on the direction of prime minister againstelectricity theft is continued and the government has recovered Rs61billion from them so far.
He said there are 8,780 feeders in the country and 80% of feeders are freefrom load shedding because of the government’s resolve to provide relief tothe people during Sehr-o-Iftar in the holy month of Ramazan.