Govt decides to include energy reforms in Budget 2023-24

ISLAMABAD: The federal government on Tuesday decided to make energy reforms a part of the Budget 2023-24 in order to cut reliance on imported fuel, ARY News reported.

The decision was taken by Prime Minister (PM) Shehbaz Sharif at a high-level meeting on energy-related budgetary proposals that focused on the generation of cheap electricity, relief for consumers, and launch of solarisation projects.

PM Shehbaz Sharif directed inclusion of measures in the upcoming budget regarding control of power line losses and electricity theft.

He also ordered the allocation of funds in the budget for the launch of wind and solar energy projects and called for the swift completion of power projects.

The meeting was informed that under the government’s solarisation programme for public buildings, four phases had been completed successfully.

Read more: Budget 2023-24: Rs102.86b likely to be allocated for power sector

The steps taken by the government for the supply of uninterrupted electricity and gas also came under discussion.

The meeting was attended by federal ministers including Ishaq Dar, Khwaja Muhammad Asif, Engineer Khurram Dastagir Khan, and Maryam Aurangzeb, Advisers to PM Ahad Cheema, State Ministers Dr Musadik Malik, and Ayesha Ghous Pasha, PM’s Special Assistant Tariq Bajwa, Jahanzeb Khan, Chairman Federal Board of Revenue, Chairman WAPDA and the officials concerned.

Commerce Minister Syed Naveed Qamar, Governor State Bank of Pakistan and prominent businessmen joined the meeting through video-link.

Read More: NEC sets targets for FY 2023-24 federal budget

It is pertinent to mention here that the Budget 2023-24 would be presented on 9th June in the National Assembly after approval by the federal cabinet.

The economic team made these remarks while briefing Prime Minister Shehbaz Sharif about preparation of the budget for financial year 2023-24.

The PM was briefed about revised estimates of revenue and expenditures and target estimates for the next year. “The economy has been on a positive trajectory toward financial stability and decrease in deficit,” the meeting was informed.

PM Shehbaz Sharif said that all available resources should be used to reduce the financial difficulties and provide relief to the middle class.