Islamabad September 7 2021: The Finance Minister urged petroleum and power ministers to adopt forward planning while dealing with the volatile energy prices in international markets.
Pakistan has recently received highest bids for procurement of RLNG cargoes, majority of those were around $ 20 per MMBTU.
He also emphasized the importance of risk hedging to dampen the impact of recent fluctuations in global prices of crude oil and petroleum products particularly due to supply side disruptions amid COVID-19 pandemic.
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The Finance Minister also stressed upon exploring cost-effective options such as renewable sources of energy for a sustainable energy equation by reducing reliance on expensive power producing plants in order to make the energy sector dynamic and sustainable.
Federal Minister for Finance and Revenue, Mr. Shaukat Tarin discuss this during a meeting with the Federal Minister for Energy Mr. Hammad Azhar and SAPM on Power and Petroleum Mr. Tabish Gauhar at the Finance Division, today. Secretary Power, Secretary Finance Division, and other senior officers participated in the meeting.
While speaking on the occasion, the Federal Minister for Energy briefed the participants about growing demand for energy, installed generation capacity, transmission capability and also outlined steps being taken for improving transmission and distribution systems for reducing costs and ensuring sustainability.
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In his concluding remarks, the Finance Minister stated that the present government is cognizant of its obligation to fulfill energy requirements at affordable rates for electricity consumers. To this end, the Government is taking all possible measures to meet future energy demands. The Finance Minister assured full support and facilitation to the energy sector on the occasion.
