Govt earmarks Rs 73 billion for power sector

Govt earmarks Rs 73 billion for power sector


Govt earmarks Rs 73 billion for power sector

ISLAMABAD (Dunya News) – Minister for Finance Miftah Ismail on Friday said that keeping in view importance of energy for development of the country, the government has earmarked Rs 73 billion for power sector.

Presenting budget speech for fiscal year 2022-23 in the National Assembly, the minister said bringing improvement in electricity generation, transmission and distribution was government s top priority.

He said out of total allocation, a sum of Rs 12 billion would be spent for early completion of Mohmand dam. The project would benefit both the agriculture sector and the farmers.

The minister said that Pakistan was facing acute energy shortage. The thermal energy has become expensive due to sky rocketing prices of imported fuel. Promotion of renewable energy was a possible way forward to cope with such situation, he added.

He said it was proposed to exempt sale tax on import of solar panels and local supply. Moreover, through banks, easy loans would be provided to consumers using less than 200 units for purchasing solar panels, he said.

Miftah said it would not only promote environment friendly energy in the country but also help reduce import of expensive oil and gas.