ISLAMABAD: Finance Minister Muhammad Aurangzeb has said that structural reforms are being undertaken in the power sector to improve its efficiency and service delivery.
During a meeting with the K-Electric delegation on Tuesday, the minister said the reforms included the reconstitution of the boards of directors of Discos by bringing in professionals from the private sector and reducing the number of government nominees to bring in more efficiency in the boards and improve overall service delivery.
The KE team discussed its seven-year plan that includes future investments in transmission and distribution with a target of additional power generation of 2,172 MW by 2030.
KE shares initiatives to reduce tariff for Karachiites
Led by KE board of directors chairman Mark Skelton, the delegation also discussed pending liabilities during the meeting.
The KE team was originally in Islamabad to meet Energy Minister Awais Laghari to discuss their issues.
A well-placed source told Dawn that the seven-year plan includes renewable energy in its generation mix, which is projected to be 1,182MW renewable to lower the cost of electricity for Karachi.
The minister reiterated the government’s resolve to ensure private sector participation in all government-owned Discos and Gencos. He mentioned the start of privatising three Discos in line with the prime minister’s vision to enable and facilitate the private sector to lead the economy.
The KE team briefed the minister regarding its plans to include renewable energy in its generation mix and other initiatives for improved service delivery to residents of Karachi.
The minister also lauded the KE investment initiatives to expand its energy and distribution operations and assured full support for its efforts to transition to renewables and produce cheaper and affordable energy through domestic resources.
As part of this vision, renewables share will account for 30pc of the overall power fleet by 2030. The customer base will grow by 30pc to 5 million by 2030, up from 3.5m. Simultaneously, KE will cut the duration and frequency of outages by 30pc, necessitating significant additional infrastructure expenditure.
Published in Dawn, September 11th, 2024
