Miftah Ismail announces 8000MW solar power project, subsidy on project

Finance Minister Miftah Ismail on Friday announced to install 8000MW solar power project to lessen cost of producing electricity in the country besides announcing that the government would provide relief to power consumers having bills between 200 to 300 units.

Addressing a presser today, Miftah Ismail announced that the government is going to install a solar power project, producing 8000 megawatts of electricity to lessen the overall power tariff.

He explained that the fuel adjustment charges hiked after electricity was produced in May and June on exorbitant rates following an increase in fuel prices globally. “We hiked Rs7 on basic tariff after IMF insisted that the tariff has not been increased for an year and a half,” the finance minister said.

Subsidy on electricity bills 

Speaking over the subsidy announced by the prime minister on FCA for power units upto 200, he said that 56 percent consumers will be benefitted from it. “Just forget the bills received in August and we will deliver your new bills after excluding fuel adjustment charges. You are not required to visit offices of power utilities,” he said.

He further announced that they would also mull over a relief for consumers having electricity bills between 200 to 300 units. “Consumers using tube wells are already exempted from the fuel adjustment charges,” he added. “We have taken this decision to waive off fuel adjustment charges after consultation with IMF.”

Qatar, UAE agree to multi-billion investments  

Miftah Ismail announced that Qatar has agreed to US$3 billion investment in Pakistan while UAE will also be bringing investments of US$2 billion in Pakistan.

The finance minister also asked the nation to generously donate in flood relief fund established by the prime minister and said that he would be personally monitoring expenses from the fund.

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