PM orders immediate release of funds to power companies

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GMT - 3 Hours PM orders immediate release of funds to power companies

Post by yaad on Mon Oct 03, 2011 2:52 pm

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ISLAMABAD: Prime Minister Yousuf Raza Gilani has directed the Ministry of Finance to immediately release the due amount of PEPCO for onward payment to PSO for resuming full supplies of fuel to the thermal power plants.

The above direction was given by the Prime Minister while chairing a special emergency meeting at PM's House here on Monday on the current acute energy shortfall in the country.

The Prime Minister also directed the Ministry of Petroleum and Natural Resources for ensuring restoration of full supplies of fuels to the power plants including the KAPCO and HUBCO so that they can generate electricity to ease the electricity shortage in the country.

Full restoration of the fuel supplies to these two plants will generate additional 2000 MW electricity that will greatly help in lowering the intensity of the energy shortfall.

The meeting reviewed the energy conservation measures and Minister for Water and Power was directed by the Prime Minister to hold consultation with the Provinces in this regard as any operational strategy in this respect has to be undertaken with the Provincial Governments on board.

The Prime Minister also directed the High Powered Committee consisting Syed Naveed Qamar, Minister for Water and Power, Dr. Asim Hussain, Minister for Petroleum, Deputy Chairman Planning Commission, Dr. Nadeemul Haq and Acting Governor State Bank of Pakistan and headed by the Finance Minister, Dr. Abdul Hafeez Sheikh, to submit its recommendations in a Special Cabinet meeting to be convened soon aimed at the resolution of unscheduled loadshedding in the country.

The Special Emergency meeting was attended by the by Minster for Finance, Dr. Abdul Hafeez Sheikh, Minister for Water and Power, Syed Naveed Qamar, Minster for Petroleum, Dr. Asim Hussain and Senior Officials of the Ministries of Finance, Water and Power, Petroleum and Planning Commission. (PPI)
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