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Pakistan has introduced a new energy policy aimed at attracting $5 billion in investment through public-private partnerships, Radio Pakistan reported on Sunday.
The government has been working to reform its energy sector, which has long been burdened by issues such as circular debt, power theft, and transmission losses. These challenges have resulted in frequent blackouts and high electricity prices.
Key features of the newly introduced policy are:
- The new policy, developed with the support of the Special Investment Facilitation Council (SIFC), is designed to foster the growth and prosperity of the energy sector.
- It is expected to attract up to $5 billion in investments and promote 35 percent private sector involvement.
- The primary goal of the policy is to stimulate public-private partnerships within the energy sector.
- The policy allows production and exploration companies to sell 35 percent of future gas discoveries to private entities through a competitive bidding process.
- The policy will generate thousands of jobs, increase gas production, reduce reliance on expensive imported fuels, and contribute to Pakistan’s economic growth.
