PTI govt didn’t buy cheap gas, hence financial crisis: PM

ISLAMABAD: Prime Minister Shehbaz Sharif Friday criticised the previous Pakistan Tehreek-e-Insaf (PTI) government’s energy policies, saying had they reached long-term agreements for the purchase of cheap gas, the country would not have faced current financial problems.

Chairing a meeting on electricity crisis, he termed loadshedding a major problem, but expressed his resolve to overcome it by restoring all halted energy projects. He said efforts were afoot to make all power plants functional. He said if the previous PTI government would have procured liquefied natural gas (LNG) on cheaper rates, the current severe financial crisis could have been avoided. He said when people experience long power outages, they curse the government, though the current government was not responsible for it. He alleged that challenges were being faced in energy sector due to the bad policies of the previous government.

He said although gas and oil prices were very high in the international market, his government was taking every possible step to control power loadshedding by making functional all power plants. He said lack of maintenance of power plants during the PTI government resulted in power shortages. He claimed that the previous government delayed the Haveli Bahadur Shah power plant, which had the capacity to produce 1,250-megawatt electricity.

The PM claimed that the previous PMLN government had signed an agreement with Qatar for the purchase of LNG on lower rates, but, regrettably, the party leaders including Shahid Khaqan Abbasi and Miftah Ismail had to go to jail for signing those agreements.

Sharing good news with the nation, Shehbaz Sharif announced that 720-megawatt Karot hydropower project had become functional. In a tweet on Friday, the PM expressed his gratitude to the Chinese government for its cooperation in Karot hydropower project. “It is the first hydropower project which has been completed under CPEC,” the PM said. He said during nearly four years of the previous government, no significant progress was made on the project.

Built by China Three Gorges Corporation (CTG) under a build-own-operate transfer (BOOT) contract with a concession period of 35 years, Karot is the first project established under the China-Pakistan Economic Corridor (CPEC) initiative. Located on the Jhelum River in the Punjab province, the plant is expected to generate 3.2 TWh per year electricity.