Govt paid Rs473 billion subsidy to energy sector final 12 months, says Omar Ayub

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Federal Minister for Power, Petroleum, and Natural Resources Omar Ayub. Photo: Screenshot by way of Geo NewsISLAMABAD: Federal Minister for Energy Omar Ayub on Thursday mentioned the federal government had paid Rs473 billion subsidy to energy sector final 12 months regardless of the financial crunch.Addressing a press convention accompanied by the Minister for Planning and Development Asad Umar and Special Assistant to Prime Minister for Power Tabish Gohar, he mentioned the PTI authorities inherited capability funds from PML-N authorities.”The agreements inked by the PML-N government with the power sector were based on bad intentions and corrupt practices,” he mentioned.The minister added that as a result of insurance policies of the earlier authorities, the rise in electrical energy tariff had reached Rs2.18 however the current authorities had determined to extend the charges by Rs1.95 per unit solely.Ayub mentioned that the annual capability funds to IPPs had been Rs185 billion in 2013, Rs 468 billion in 2018, Rs 642 billion in 2019, Rs 860 billion in 2020, whereas it will reach Rs 1455 billion in 2023. “These are the land mines, I am talking about,” he mentioned.Speaking on the event, Special Assistant to Prime Minister (SAPM) on Power, Tabish Gohar mentioned the federal government had taken quite a few initiatives to scale back round debt.”Due to the initiatives of the present government, Rs1 to Rs2 per unit would be reduced in the prices of electricity in upcoming years,” he mentioned, including that authorities had made agreements with energy sectors as per regulation and rules.The SAPM mentioned that with the coordination of provinces, the federal authorities would take steps to regulate the electrical energy theft.Tabish Gohar mentioned deficiencies of energy firms can be improved and their monopoly can be ended within the subsequent three to 4 years.