AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
PSX
Currencies
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

Cheap Power Generation Crucial As Energy Import Bill Swells to $27 Billion says Pakistan Premier

admin-augaf by admin-augaf
December 5, 2022
in Business, Finance
Reading Time: 3 mins read
0
Pakistan Premier Directed to Cut Reliance on Imported Fuel

Pakistan Premier Directed to Cut Reliance on Imported Fuel

Share on FacebookShare on TwitterWhatsapp

Islamabad December 5 2022: Pakistan Prime Minister Shehbaz Sharif on Monday said Pakistan was in dire need of generating cheap electricity as the energy import bill exorbitantly touched $27 billion.

He was addressing the inaugural ceremony of the refurbishment project of Units 5 and 6 of the Mangla Dam Hydroelectric Power Plant, carried out with the support of the United States Agency for International Development (USAID).

PM Shehbaz Sharif said Pakistan, which was already facing immense challenges of economic stability, could not bear the heavy costs of energy import bills and thus needed to utilize alternative sources of electricity production.


He regretted that in 75 years, both democratic and military rulers were responsible for not building sufficient dams to meet the energy needs.

“Had the water reservoirs built on time, the country’s energy import bill would not have swelled to USD 27 billion,” he said, pointing out that “powerful lobbies and cartels” did not let materialize the construction of dams and launch of solar power projects.

Also, in the wake of recent flash floods in the country, he said, dams were crucial to mitigate the effects of climate change.

The prime minister termed the assistance of USAID for the refurbishment of the units of Mangla dam as a “wonderful example of cooperation” between Pakistan and the United States.


He lauded the valuable grant of USD 150 million by USAID along with the financial support by the Development Agency of France amounting to 90 million euros besides another pledge of 65 million euros. Also, WAPDA (Water and Power Development Authority) contributed USD 178 million (PKR 20 billion rupees) from its own resources, he said.

He expressed satisfaction over the interest of the U.S. to carry out an extension programme of the country’s largest Tarbela dam.

Shehbaz Sharif said the 75-years-old friendship and bilateral relationship between Pakistan and the U.S. had further strengthened at the levels of trade and investment.

United States Ambassador Donald Blome said the Mangla dam was a great symbol of U.S.-Pakistan cooperation and added that the U.S. was also assisting WAPDA in increasing the power generation capacity of the Tarbela and Gomal Zam dams.

He said maintenance and upgrades of dams were of critical importance in the wake of climate change and expressed hope that the green alliance between the two countries would prove beneficial for the energy and agriculture sectors of Pakistan.

The General Electric Hydro France Project Director said despite the challenges of the COVID-19 pandemic, the suspended projects of refurbishment were carried out effectively. He mentioned that six more units of Mangla dam would also be refurbished in the future.

Chairman Water and Power Development Authority (WAPDA) Lt Gen (retd) Sajjad Ghani said the refurbishment of the units of Mangla dam was in line with the keen interest of the federal government to provide clean, green and cheap energy to the people of the country.

He said WAPDA had not only initiated new hydropower projects, but also been rehabilitating and upgrading its existing hydel power stations including Mangla to maximize the ratio of environment-friendly and low-cost hydel electricity in the national grid.

Prime Minister of Azad Kashmir Sardar Tanveer Ilyas, Special Assistant to PM Tariq Fatemi, Secretary Water and Power Division Hassan Nisar, and senior officials were present.

The prime minister also visited the refurbished units of the dam, where he was given a detailed briefing about the project.


Related Posts

Pakgen Power Received PKR6,535 Million In Circular Debt Settlement

Pakistan Planning Minister Reviews 300 MW Coal Fired Power Project To Avoid National Exchequer Loss

TEL 330MW Thar Coal Based Power Plant to Start Commercial Operations from Tomorrow

Government Paid PKR6.2 Billion In Circular Debt Settlement To Lalpir Power


Tags: Power
admin-augaf

admin-augaf

Related Posts

Gold Prices Increased for the Second Day in Pakistan
Business

Gold Prices Increase PKR 21 Thousand During Week on Rupee Fall

January 28, 2023
UAE President Visit to Pakistan
Business

UAE President to Visit Islamabad on Monday

January 28, 2023
Pakistan’s SOE
Budget

Pakistan Revisiting Role of SOEs and PDF to Meet IMF Condition

January 28, 2023

Recent News

Top U.S. Treasury Official to Warn UAE, Turkey over Sanctions Evasion

Top U.S. Treasury Official to Warn UAE, Turkey over Sanctions Evasion

January 28, 2023
Gold Prices Increased for the Second Day in Pakistan

Gold Prices Increase PKR 21 Thousand During Week on Rupee Fall

January 28, 2023
UAE President Visit to Pakistan

UAE President to Visit Islamabad on Monday

January 28, 2023
An Indian Airforce (IAF) Sukhoi 30 MKII fighter jet, developed by Sukhoi Aviation Holding Co., on display during the Air Force Day Parade at Hindon Air Force Station in Ghaziabad, Uttar Pradesh, India, on Friday, Oct. 8, 2020.

Two Airforce Aircraft Collide Mid-Air in Central India

January 28, 2023
Pakistan’s SOE

Pakistan Revisiting Role of SOEs and PDF to Meet IMF Condition

January 28, 2023

Popular News

  • Central Directorate of National Savings

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall for the Straight Second Day Against Dollar on Opening of LCs

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • Top U.S. Treasury Official to Warn UAE, Turkey over Sanctions Evasion
  • Gold Prices Increase PKR 21 Thousand During Week on Rupee Fall
  • UAE President to Visit Islamabad on Monday

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

Top U.S. Treasury Official to Warn UAE, Turkey over Sanctions Evasion

Top U.S. Treasury Official to Warn UAE, Turkey over Sanctions Evasion

January 28, 2023
Gold Prices Increased for the Second Day in Pakistan

Gold Prices Increase PKR 21 Thousand During Week on Rupee Fall

January 28, 2023
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.