Prime Minister Shehbaz Sharif has approved a long-term power sector expansion plan, which the Ministry of Energy and Power Division has now made public. The 10-year plan outlines transformative steps to enhance electricity production in Pakistan, strongly focusing on affordability, transparency, and sustainability.
According to the Power Division, new projects totalling 7,017 megawatts have been included in the expansion plan. Timely and transparent completion of these projects is expected to meet national energy demands and help reduce electricity prices. Adjustments in project timelines are projected to save around $10 billion, while excluding 7,967 megawatts of expensive and inefficient projects has ensured an additional $7 billion in savings.
The Power Division emphasised a shift towards renewable energy, including hydropower and solar, to provide environmentally friendly and cost-effective electricity. The inclusion of the private sector has also been welcomed, with expectations of significant investment in the energy market.
The ministry has proposed several effective measures to control electricity prices. Future projects will be aligned with consumer needs and demand forecasts, and electricity procurement will be conducted on a competitive, transparent, and cost-efficient basis.
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The government has also decided to review costly and non-operational power projects. Agreements with plants not producing electricity will be terminated, significantly easing the financial burden.
The Ministry of Energy has hailed the plan as a revolutionary step in the national interest, one that will not only help overcome Pakistan’s energy crisis but also ensure the supply of affordable and reliable electricity in the years to come.
