Tarin calls for adopting forward planning for energy prices
ISLAMABAD: Finance Minister Shaukat Tarin has urged to adopt forward planning, while dealing with the volatile energy prices in the international markets.
During a meeting with Federal Minister for Energy Hammad Azhar and Special Assistant to the Prime Minister on Power and Petroleum Tabish Gauhar at the Finance Division, Tarin emphasised the importance of risk hedging to dampen the impact of recent fluctuations in the global prices of crude oil and petroleum products, particularly due to the supply side disruptions, amid Covid-19 pandemic.
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 to make the energy sector dynamic and sustainable.
Azhar briefed the participants about the growing demand for energy, installed generation capacity, transmission capability and also outlined the steps being taken for improving transmission and distribution systems for reducing the costs and ensuring sustainability.
Finance Minister Tarin said 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 the future energy demands. The finance minister assured full support and facilitation to the energy sector.
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