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Industrial leaders push for CTBCM regime for direct power purchases

Industrial leaders push for CTBCM regime for direct power purchases
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July 10, 2024 (MLN): The industrial chambers and associations of Pakistan have urged the government to implement the Competitive Trading Bilateral Contract (CTBCM), a model that allows bulk power consumers to purchase electric power directly from the electricity distribution companies (DISCOs) or a competitive supplier.

The Renewables First and Pakistan Environment Trust (PET) held a meeting on Tuesday, revolving around the topic of increase in demand for electricity.

A lack of proficiency is seen in the government by prominent figures, including Zubair Motiwala, CEO of the Trade Development Authority of Pakistan, Tanveer Ahmed Barry, vice president of the Karachi Chamber of Commerce and Industry, Johar Ali Qandhari, president of the Korangi Association of Trade and Industry, and Asif Inaam, vice president of FPCCI and chairman of APTMA.

Considering the excess generation capacity in the grid, the figures strongly assume the trajectory of Pakistan’s power sector.

As Former National Electric Power Regulatory Authority (NEPRA) chairman, Tauseef Farooqui, emphasizes that it is not the government’s role to engage in business activities, the CTBCM regime is seen as the only solution directly addressing the matter as the government holds a monopoly on the power supply and demand.

Power will be available for purchasing at competitive prices when the CTBCM regime is implemented.

Farooqui believes this regime may benefit in the long run, as the country’s power sector needs urgent reforming.

PET member Faiza Jamil mentions this regime may allow businesses to lower Scope 2 emissions and be enroute towards net zero goals, by getting access to clean energy directly from producers through bilateral contracts.

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Posted on: 2024-07-10T12:07:06+05:00