Agreement signed with IPPs will reduce circular debt, flourish economy: Omar Ayub

Minister for Power Omar Ayub says the agreement signed with the Independent Power Producers will reduce circular debt and strengthen the country economically.

He said this while addressing the Hi-Octane 97 Euro -V petrol launching ceremony in Islamabad on Tuesday. The Minister said the agreement signed in the country's interest will also promote industrial sector.

He said the government will enable Pakistan to generate 70 percent energy through indigenous resources till 2030. He said the government plans to promote renewable and alternative energy.

Omar Ayub said the previous governments did not focus on addressing issues of the power sector and we face a lot of difficult economic situation when we come into power.

He said, soon Pakistan will prepare indigenously wind energy instruments for the production of electricity.

Source: Radio Pakistan