The federal government has launched an extensive series of reforms in the power sector, led by the National Task Force, with the goals of lowering electricity prices and improving supply for consumers.
Power Minister Owais Leghari emphasized that the task force is actively pursuing key initiatives for public welfare, including revising and ending outdated contracts with select Independent Power Producers (IPPs).
Leghari noted that these reforms aim not only to reduce electricity costs but also to curb government expenditure.
The government is also prioritizing the enhancement of energy infrastructure and has initiated the privatization of distribution companies. A new market structure will soon be introduced, giving consumers more flexibility in electricity purchases.
The sector’s revolving debt has reached $9.5 billion, highlighting the critical need for reform. Economic analysts predict that these changes will lead to lower electricity prices and stimulate economic growth, benefiting the public.
Prime Minister Shahbaz Sharif has created the task force, led by Federal Energy Minister Owais Leghari, to drive structural changes in the power sector.
This task force includes representatives from various entities, such as the military, NEPRA, CPPA, PPIB, and SECP, and will deliver recommendations to the Prime Minister within a month, focusing on reducing IPP capacity payments and addressing other essential issues to promote financial stability in the power sector.
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