Energy Sector Could Take 5 to 7 Years to Fix: Shaukat Tareen

Finance Minister Shaukat Tareen has said that he thinks the energy sector is a “weak aspect” of the government and it will take at least five to seven years to solve the problems it faces.

Addressing the traders at the Karachi Chamber of Commerce and Industry, he said that the present government was trying to solve the problems the energy sector was facing today, despite those problems not being its fault.

“There is more than enough (electricity generation) and we have to use that electricity,” he added.

Shaukat Tareen’s remarks were similar to those of other PTI leaders who have accused previous governments of launching unnecessary power projects.

Reiterating this allegation, Shaukat Tareen pointed out that power generation is a necessity as various projects have been launched which cannot be stopped halfway.

“It will take time (to solve the problems facing the energy sector) and we will be under pressure,” he said.

However, the finance minister assured that the energy minister and his team were doing their best to resolve the issues, and policy decisions in this regard would be taken in the next few months.

Shaukat Tareen said that the Economic Advisory Council has made plans for 14 sectors which have not been seen in Pakistan’s economy for many years.

He lamented that “since 1972, planning has been abandoned because the Planning Commission was abolished and thanks to lack of long-term and medium-term plans, the policies were not effective and focused.”

Shaukat Tareen further said that Prime Minister Imran Khan would be briefed on the progress of these projects in monthly meetings.

He further said that a cell would also be set up in the Ministry of Finance and the help of analysts of Pakistan Institute of Development Economics would be sought for holding the meetings. 

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