Minister for Power Engineer Khurram Dastgir on Tuesday said Shanghai Thar Coal Power Project has started generating 2,640 Megawatt electricity utilizing the local fuel, which will not only control the load-shedding, but also help in reducing the electricity prices.
Addressing a news conference in Islamabad, he said the PDM government, under the leadership of Prime Minister Muhammad Shehbaz Sharif, made hectic efforts to produce electricity using local fuel and succeeded to add 1,980 Megawatts electricity from Thar Coal in the system during the past ten months.
Khurram Dastgir said Thar Coal have 175 tonnes of reserves which is sufficient to generate one hundred thousand megawatts of electricity.
Dastgir further announced that an agreement has been reached with the International Monetary Fund (IMF) on all financial matters for the current fiscal year. However, the IMF has requested guarantees for the next fiscal year.
The Minister acknowledged that there was a negative experience last summer and said that the government is taking measures to prevent a recurrence of power shortages.
Dastgir emphasized the government's commitment to reducing consumer bills while ensuring that the country's power needs are met. The government is taking steps to achieve this goal and will continue to do so.
He added that the agreement with the IMF is a positive development for Pakistan as it strives to navigate the economic challenges posed by the Covid-19 pandemic. The government's focus on stabilizing the economy and promoting growth is a step in the right direction. However, the IMF's request for guarantees for the next fiscal year suggests that there are still uncertainties that need to be addressed, he said.