.prime Minister Shehbaz Sharif has approved the revised Integrated Generation Capacity Expansion Plan (IGCEP) 2024–34, a strategic 10-year roadmap for Pakistan’s power sector aimed at ensuring affordable and reliable electricity.    The newly approved plan is expected to result in savings of $17 billion by rescheduling or canceling 7,967 MW of planned projects. These revisions are part of efforts to reduce the national economic burden, with projected savings of around Rs 474.3 billion, or approximately $10 billion, from adjusting project timelines. The revised strategy is expected to bring down electricity tariffs, potentially saving over Rs 2 per unit. For the first time, officials emphasized, electricity projects were chosen based on merit and transparency, removing costly and unnecessary projects that were previously included in the plan.   The original IGCEP included 14,984 MW of new projects, but after revisions, the new plan includes only 7,017 MW of projects, prioritising hydropower projects like Dasu and Mohmand Dams, and focusing on renewable energy sources such as solar, wind, and nuclear power. The shift towards indigenous resources will reduce Pakistan’s reliance on imported fuels like coal and natural gas, helping save billions of dollars in foreign exchange annually.The Ministry of Water Resources has been tasked with ensuring that strategic hydropower projects are completed on time and within budget. Additionally, a high-level committee has been formed to address issues related to the petroleum sector, including the synchronization of LNG demand with the power sector’s needs, and measures to address gas sector challenges such as circular debt and tariff reforms. (ICE ISLAMABAD)

Fonte notizia: profit