Alternative energy policy prepared, power costs to go down, says Omar Ayub

ISLAMABAD: Federal Energy Minister Omar Ayub Khan Wednesday said that the government has devised the alternative energy policy and the power costs will come down in future, ARY News reported.

He was addressing a press conference alongside with Special Assistant to Prime Minister Nadeem Babar.

The power tariffs went up due to the past policies, which will go downward in future, the minister said.

Keeping the electricity rates down is flagship policy of the government of Pakistan Tehreek-e-Insaf (PTI), Omar Ayub Khan further said.

During the PML-N tenure the electricity generation became as expensive as Rs 17 per unit, the minister said.

The new alternative energy policy will help to generate inexpensive electricity with wind and solar sources, the minister said.

The country have immense sources for generation of alternative energy, which will help bringing the power prices down in Pakistan, Omar Ayub Khan said.

Investors are arriving from Germany and Japan to invest in manufacturing of solar panels and US$ 700 million being invested in the wind power, the minister said.

Around 8000 megawatts power projects will be installed in Pakistan by 2025 and the government has set a target of 60 to 65 percent clean and green energy in the country by year 2030, Ayub said.

Special Assistant to PM Nadeem Babar said that the present government was taking efforts for manufacturing of the machinery in the country, which we are currently importing from abroad.

Promotion of solar and wind power would also have positive impact over the foreign exchange reserves, he said.

The government also working for domestic manufacturing of the machinery for alternative and renewable energy.