Two French companies want to invest in Pakistan's power sector: Ambassador Marc Barety

ISLAMABAD: Ambassador of France to Pakistan Marc Barety called on Federal Minister for Energy (Power Division) Omar Ayub Khan here on Monday and informed him that two French companies wanted to invest in the power sector of Pakistan.

Omar Ayub said that Pakistan and France shared cordial relations and emphasised the need to extend those ties from trade and economic domain to cooperation in the field of energy. He said that Pakistan highly valued its multi-faceted relations with France.

The minister said that Pakistan was keen to forge closer relations with France in areas of mutual benefit. He said that Power Division had chalked out a plan to control electricity theft and increasing capacity of generation and transmission of electricity.

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“Working is under way on a mechanism to deal with power theft. Power Division engaging with the provinces on creation of special task forces with the support of provincial governments, local authorities and law enforcement agencies for crackdown against electricity theft” he added.

ABC cable to be installed to stop power theft

The energy minister further elaborated that ABC cable which had a capacity to stop any kind of electricity theft would be installed initially in the premises of IESCO, PESCO and LESCO and the cost for this project had been estimated 900 million dollars. The Asian Development Bank will finance this project, he added.

He stated the steps would not only reduce power theft but would also lead to decline in the circular debt.

“Transmission and distribution capacity of electricity will be increased by metering tree and introduction of ABC cable, this way deficit in power sector can be overcome,” he emphasized. He also said that for increasing power generating capacity, utilising the sources of solar, wind and hydel are the priorities of the government.

Omar Ayub Khan assured that regulatory tax, capacity charges, tariff and independent power plants issues would be solved amicably.

The ambassador of France appreciated the suggested plan of the Power Division to control electricity theft. He said that France would look into all possibilities of cooperating with Pakistan in the field of energy.