CM Chairs Signing Ceremony of Rs 100 billion Financing for Electricity Project

LAHORE, Dec 17 (APP): Punjab Chief Minister Sardar Usman Buzdar on Thursday chaired a ceremony of signing Rs100 billion financing agreement between the Punjab Thermal Power (Pvt) Ltd. and a consortium of six banks at a local hotel for a 1263 megawatt project with capacity to generate ten billion units annually.

Provincial Secretary Finance Abdullah Sumbal signed the agreement. Addressing the ceremony, the Chief Minister termed the agreement as the largest sovereign guarantee in the history of the country and congratulated Provincial Ministers Hashim Jawan Bakht, Dr Akhtar Malik and others. The Punjab Thermal Power Plant was speedily completed and electricity would be generated by the end of 2021, he said.

Meanwhile, the CM said 80 per cent work had been completed on RLNG-based Punjab Power Plant in Trimmu as installation of 93-kilometres long gas pipeline and 48-kilometres long transmission line projects was completed. Similarly, the latest technology-based system had been installed in the Punjab Power Plant to generate cheap electricity. Due to payment in Pak rupees, the precious reserves would be saved along with a decrease in the production cost of the electricity, he maintained.

This would help in bringing a substantial decrease in circular debt along with creating job opportunities for thousands of people. The Punjab government was giving attention to electricity generation through alternate sources keeping in view the less cost of electricity produced through solar, wind or hydropower plants, CM said. The chief minister maintained electricity was produced at the rate of Rs 9.29 to Rs 27.12 per unit in power plants installed in previous tenures. However, the per-unit cost of electricity generated through Punjab Thermal Power Plant would be Rs 8.95 per unit, he added.

More than 20.7 million unit electricity have been generated by the hydropower projects installed in Pakpattan and Marala by the incumbent government, he said. Meanwhile, 7,000 government offices have been converted to solar energy, including 6991 primary schools and a DHQ hospital. By the mid of next year, the government will complete Chianwali and Deg-outfall Hydropower Projects, he announced. He further said to early complete the conversion of 10861 schools and 2324 BHUs to solar energy. In addition to the installation of 1,000 megawatt capacity power plant in Rojhan, solar and biogas hydropower plants will also be installed in Vehari and Samundri, the CM added.

The government was also vigorously pursuing the generation of 150-megawatt energy through waste-to-energy projects. Instead of expensive electricity generation, the chief minister maintained the incumbent government was giving attention to alternate energy sources and hydral power plants. It has been planned to complete the most of energy projects through the private sector to provide cheap electricity to the people facing the issue of price-hike, he added. Punjab will not only be energy self-sufficient but would also provide electricity to other provinces, he said.

Provincial Ministers Abdul Aleem Khan, Hashim Jawan Bakht, SACM Dr Firdous Ashiq Awan and other parliamentarians were also present.

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