GOV not Renewing IPPs Contracts- Russian Cheap Oil Project was Taken Away – Import from Iran is Sanctioned – We are Committed with TAPI – Musaddik

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    Tazeen Akhtar
    Federal Minister for Petroleum Dr. Musaddik Malik has categorically dispelled the impression that the Government is going to renew the contracts of Independent Power Producers for next 10 Years. He has made it clear that , ” Rather we would like not to renew the contracts that complete their time period.”
    He said this in the Press Conference at PTV Headquarters replying to the questions by this scribe.The question was, it is feared that the contracts of IPPs are being renewed for 10 more years.
    The Minister answered, the government will better take leave from the IPPs that reach to their agreement limit and that are unable to give the agreed output.
    This scribe asked , when Pakistan is badly deficient of energy, why we are not availing the available opportunities from Turkmenistan and Iran? TAPI project managers visit Pakistan every six month and they had more meetings with you (Minister Musaddik Malik) as you are incharg of the minister for last three governments of PMLN. What is the obstacle ? Turkmenistan has completed the gas and electricity pipeline up to Qandhar.
    This scribe asked regarding Iran, the pipelines are touching the border with Balochistan and now they are looking towards Pakistan to construct the infrastructure on her side. During all these long years Pakistan could import 200 MW electricity only.
    Regarding cheap oil from Russia, the scribe questioned that you raised the hope for that and we see no difference it could make in the energy / prices landscape of Pakistan.
    Minister took all questions and replied , the government is working on TAPI and we are committed to complete it at the earliest.
    He said for Iran, the sanctions are main obstacle. We can not afford to be sanctioned.
    On Russia, the Minister said that the ship came and everyone was saying that it is not possible. We made it possible. But later a private company was inducted. Now they are responsible and we are out of this arrangement. Minister did not mention the name of the company nor he shared who recommended that company but certainly whoever recommended , belongs to some very powerful quarter.
    Earlier in the press conference, the Minister  announced that the government’s economic policies were yielding positive results under the leadership of Prime Minister Shehbaz Sharif. He highlighted a significant reduction in food inflation from 48% to 2%, with ongoing efforts to further control price hikes and provide relief to the public.
    During a press conference, Dr. Malik reported that overall inflation in the country has decreased from 38% to 12% due to the government’s interventions. The inflation, he said, was gradually falling and that economic indicators suggest the country was moving towards stability. Addressing key priorities, the minister noted that the government was focused on alleviating poverty, reducing inflation, and creating job opportunities for the youth.
    Despite facing economic challenges, the government has allocated Rs 600 billion in the current federal budget to uplift the poor. This budget includes funds for the construction of dams, roads, and motorways, which were expected to generate job opportunities. Additionally, development projects were being prioritized in underdeveloped areas to benefit local communities.
    Dr. Malik also mentioned that Rs 50 billion has been allocated to protect 86% of electricity consumers over the next three months. The government was committed to enhancing public relief, improving hospitals, digitizing the Federal Board of Revenue (FBR), and privatizing state-owned enterprises. He criticized the previous Pakistan Tehreek-e-Insaf (PTI) government for providing $4 billion to the 100 wealthiest individuals during its tenure.
    The minister emphasized the government’s efforts to combat terrorism, despite opposition criticism. He revealed that Rs 9,400 billion has been allocated for loans to farmers to develop the agricultural sector, leading to a 45% increase in tractor production and sales due to the current administration’s policies.
    Additionally, Rs 600 billion had been allocated in the budget for the Benazir Income Support Programme (BISP) to assist deserving women, and Rs 1.2 trillion had been reserved for the construction of roads and infrastructure in the hilly areas of Gilgit-Baltistan.
    Dr. Malik dismissed criticism from Umer Ayub regarding the government’s projects, labeling it as unfounded opposition rhetoric. He noted that Umer Ayub, who was part of the previous administration, failed to address power tariff issues at the time but now criticizes the current regime’s policies.

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