KARACHI: Federal Minister for Energy Omar Ayub Khan on Monday said that country’s economy and its progress is directly linked with the energy sector and the incumbent government has given special attention towards the energy sector.
Addressing a seminar, the federal minister Omar Ayub Khan said that currently, 85 percent of the energy is generated in the country utilizing imported fuel. “A large sum of foreign reserves is used to buy this fuel adding pressure on the economy,” he said.
He said that it is the right of the masses to be provided with electricity at cheap rates and they are eyeing to adopt cheap energy resources to ensure that the industries are provided electricity at low rates.
The electricity rates will witness a decline with the passage of time under the policies adopted by the incumbent government. “We are eyeing to fulfil 25 percent of the energy needs of the country using water resources by 2025 and increasing it to 35 percent by 2030,” he said.
The alternative resources used to produce electricity will be other than this, he said adding that these steps would create employment resources and bring stability to the economy.
On February 20, the federal cabinet has decided in principle for not hiking prices of electricity and gas besides deliberating further steps for reducing inflation.
Sources told that a meeting of the federal cabinet was held at PM House under the chair of Prime Minister Imran Khan today to discuss 16-point agenda.
“We are well-aware of problems being faced by the nationals and the people will get relief after the government’s decisions. Neither the rates of gas will be increased nor electricity prices and taxes will be hiked,” said PM Khan. The premier directed cabinet members to take further steps on an emergency basis to control inflation.