PML-N govt abolished 4000 MW of renewable energy projects: Omar Ayub

ISLAMABAD: Federal Minister for Economic Affairs Omar Ayub Monday blamed the previous PML-N government for the elimination of 4,000 MW renewable energy projects besides also incurring huge losses to the government in terms of capacity payment to IPPs, ARY NEWS reported.

During a speech at the floor of the National Assembly during the budget debate, Omar Ayub said that it was the PTI-led government that introduced a policy on renewable energy projects.

“This government has set Rs6 per unit as the power tariff for solar energy,” he said while applauding the incumbent government for eliminating corrupt practices owing to which the renewable energy projects were being delayed.

The federal minister said that the government would have to pay Rs860 billion under capacity payment charges this year to the IPPs and it would go upto Rs1455 billion by 2023 owing to the policies of the previous PML-N government.

He also lamented costlier LNG contracts in the previous tenure and said that they signed a 15-year contract with Qatar on 13.3 percent for LNG supply, however, the incumbent government signed a renewed agreement leading to an Rs3.5 trillion profit in 10 years.

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He also blamed the PML-N government for causing a loss of Rs295 billion to GIDC.

While terming it as landmines set by the PML-N government for them, Omar Ayub said that they tried to find these irregularities in files but could not succeed. “Even enemy provides details of landmines after leaving the area, however, they [PML-N] even did not bother to do so,” he said.

He blamed that despite CPEC being launched in their tenure, no new investments came to the country.