Asian Development Bank to help Pakistan combat electricity theft

News Image

MG News | October 30, 2018 at 12:16 PM GMT+05:00

0:00

October 30, 2018 (MLN): Federal Minister for Energy (Power Division), Omar Ayub has affirmed that the Asian Development Bank (ADB) will finance a project in Pakistan to put a stop to the prevalent electricity theft crisis in the country.

The Minister elaborated that ABC cable which has the capability to stop any kind of electricity theft will be installed initially in the premises of IESCO, PESCO and LESCO. The cost for this project, which has been estimated at 900 million dollars, will be financed by ADB.

He said that Power Division has chalked out a plan to control electricity theft and to increase the capacity of power generation and transmission.

“Working is underway to devise a Mechanism to deal with power theft. The Power Division is engaging with the provinces to create special task forces, using the support of provincial governments, local authorities and law enforcement agencies, for crackdown against electricity theft” he added.

Omar Ayub Khan stated these steps will not only reduce power theft but will also lead to decline in the circular debt.

He also said that for increasing power generating capacity, utilizing the sources of Solar, Wind and Hydel are the priorities of the government. He assured that Regulatory Tax, capacity charges, tariff and IPPs issues will be solved amicably.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 163,098.19
607.60M
-0.87%
-1432.62
ALLSHR 99,276.25
1,397.26M
-0.80%
-801.63
KSE30 50,184.56
221.88M
-0.89%
-450.56
KMI30 238,333.52
129.55M
-1.13%
-2718.46
KMIALLSHR 65,792.54
685.73M
-0.99%
-655.65
BKTi 45,653.52
111.72M
-1.00%
-461.31
OGTi 32,313.25
10.70M
-1.57%
-516.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,520.00 123,270.00
113,150.00
-7100.00
-5.84%
BRENT CRUDE 62.09 65.36
62.00
-3.13
-4.80%
RICHARDS BAY COAL MONTHLY 81.00 81.00
81.00
-1.60
-1.94%
ROTTERDAM COAL MONTHLY 90.50 0.00
0.00
0.40
0.44%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 58.24 61.67
58.22
-3.27
-5.32%
SUGAR #11 WORLD 16.10 16.35
15.97
-0.16
-0.98%

Chart of the Day


Latest News
October 11, 2025 at 06:54 PM GMT+05:00

Govt moves closer to privatization of First Women Bank


October 11, 2025 at 01:41 PM GMT+05:00

U.S. to impose 100% tariffs on chinese imports


October 11, 2025 at 01:20 PM GMT+05:00

Crypto bloodbath as Trump drops tariff bombshell on China


October 11, 2025 at 12:40 PM GMT+05:00

Pakistan seeks global support at IMF, World bank meetings


October 10, 2025 at 05:09 PM GMT+05:00

Gold price in Pakistan falls Rs4,578 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg