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Thursday, May 30, 2024  
21 Dhul-Qadah 1445  

PM Shehbaz banks on using renewable energy to reduce oil import bill

Says utilising renewable energy resources will also ensure riddance from crude oil tanker mafia
Prime Minister Shehbaz Sharif presides over a meeting on power sector in Islamabad on April 15, 2024. PID
Prime Minister Shehbaz Sharif presides over a meeting on power sector in Islamabad on April 15, 2024. PID

Prime Minister Shehbaz Sharif has directed the energy ministry to maximise the utilisation of renewable energy resources to reduce the country’s oil import bill by billions of dollars.

“Ultimately, we have to move to renewable energy. The oil import worth billions of dollars can be controlled by using alternative resources like solar, wind and hydel. Make cold calculations and I believe, you will be the winner in the long term,” he said while addressing reporters on Monday. He presided over the meeting to review the power sector’s performance.

The prime minister said that utilising renewable energy resources would also ensure riddance from the crude oil tanker mafia acting as “parasites and eating up” the national funds.

He pointed out that the country imports oil worth $27 billion to meet its power and transportation requirements, and the figure could be significantly reduced by transitioning to alternative energy sources.

While discussing the drive against power theft, he lauded the performance of the Punjab government and expressed the hope that the other provinces would also follow suit to overcome the challenge.

PM Shehbaz said that strengthening the country’s power transmission system required “utmost efforts” and investment otherwise the power production and investments in the sector would go down the drain unless the flaws in the transmission network were removed.

He asked the energy ministry to engage world-class consultants to suggest the government ways forward to boost the country’s power transmission system.

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The prime minister mentioned the heavy rains affecting parts of the country and expressed condolences for the lost lives.

He told the participants that he had asked the National Disaster Management Authority chairman to coordinate with the provinces and the provincial disaster management authorities to dispatch relief items to the affected areas.

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Shehbaz Sharif

Prime Minister