Cheap power generation crucial as energy import bill swells: PM Shehbaz

• 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 utilise 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 $27 billion,” he said

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said the government was working on a plan to diversify the energy mix that would save precious foreign exchange and provide relief to the people.

In a tweet, he said, “Pakistan needs clean, environment-friendly & cheap electricity to power its economic growth.” The government was particularly focusing on solar and hydropower potential, Shehbaz Sharif added.

Pakistan needs clean, environment-friendly & cheap electricity to power its economic growth. The govt is working on a plan to diversify the energy mix that will save precious foreign exchange & provide relief to people. We are particularly focusing on solar & hydropower potential

— Shehbaz Sharif (@CMShehbaz) December 5, 2022

Meanwhile, 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), he said Pakistan was in dire need of generating cheap electricity as the energy import bill exorbitantly touched $27 billion.

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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 utilise 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 $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 $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 $178 million (Rs 20 billion rupees) from its own resources, he said.