Omar Ayub, the federal minister for Energy made the announcement that the new energy policy has been given approval for making a significant shift to the generation of electricity to renewable and other sources available in Pakistan, as per the reports of local media.
He said while he was addressing a press conference that the rate of the power generation would be surged up to 20 percent by making use of the domestic reserves of renewable and other electricity projects.
Omar Ayub further said that Pakistan would be able to produce electricity domestically up to 60 percent by the year 2030. The policy was given approval by the Council of Common Interests (CCI).
He also said that the process of bidding is being started for renewable electricity projects, whereas, the engineers and the researchers are engaged in the local preparation of the power generation equipment.
The federal minister for Energy said that they would be producing power up to 10 percent via Thar coal reserves and up to 60 percent of the electricity would be generated via the domestic reserves by 2030. He said that at this time, the generation of electricity is dependent on the import of oil and gas. As per the minister, the new energy policy would assist the authorities in reducing the electricity tariff.
The minister also said that the low-cost electricity would be advantageous for the domestic consumers and for the industries. Furthermore, the power authorities would also be generating electricity via the solar system with the aid of science and technology. He maintained that alternative energy production projects would also be creating employment opportunities in the nation.