Omar Ayub criticizes PML-N for signing expensive power contracts

While expressing views in the budget debate in National Assembly on Monday, he said that the country continues to bear the brunt of signing expensive power contracts in the form of capacity payments.

“The government has introduced deep seated reforms to improve the efficiency of the energy sector,” he said.

The federal minister further stated that PML-N government abandoned renewable energy projects of four thousand megawatts.

“We gave the renewable policy and revived the renewable energy projects to improve their share in the energy mix. This will accrue a benefit of four thousand billion rupees to the country in the next fifteen years,” he added.

The Minister for Economic Affairs said the Pakistan Tehreek-e-Insaaf (PTI) government signed a cheaper LNG agreement with Qatar, which will help the country save 3.5 billion dollars in ten years.

“We have made massive investments in the power distribution and transmission system and steps are also being taken to address the issue of circular debt,” he said.