Daily Times

Minister of State for Finance Ali Pervaiz Malik Wednesday reiterated the government’s unwavering commitment to consumer protection, assuring that it will remain a top priority where Prime Minister Shehbaz Sharif was taking aggressive measures to not only end power outages but also uplift the most vulnerable segments of society.

Talking to a private news channel, he while elaborating on the government’s strategy explained that efforts are underway to create a conducive business environment for the power sector to flourish. “We are not just focusing on privatization, but also on building a robust framework that encourages investment, innovation, and competition,” he said.

This multi-pronged approach, he added, will not only enhance the efficiency and reliability of power supply but also attract private sector participation, driving economic growth and job creation, he mentioned. He said that Power and Finance ministry working together and consulting with neighbor countries how to control these power crises effectively. Malik emphasized that consumer protection will remain at the forefront of these efforts, ensuring that vulnerable segments are shielded from exploitation and receive fair, quality services. Ali Pervaiz Malik said with the consultation of the World Bank, work on the privatization of power distribution companies is also under process.

Responding a query, he said Prime Minister Shehbaz Sharif has announced billion of energy subsidy package for low-income households that consume less than 200 units of electricity which is admirable.

“My government is totally committed to bringing huge reforms and huge structural changes, he said, adding, we are inching towards that direction.

Otherwise, it will be a futile exercise and will not produce proportionate results. We are absolutely focused on the agenda of short as well as long-term policies, he added.

Separately, Minister of State for Finance Ali Pervez Malik has acknowledged the unsustainable electricity tariffs, stating that current rates of Rs 60 per unit for businesses and Rs 40 per unit for households are untenable.

In a talk with local TV, Malik outlined the government’s efforts to ease the burden on consumers, highlighting a Prime Ministerial initiative providing Rs 50 billion in relief for those using up to 200 units of electricity. However, he emphasized that lasting solutions require comprehensive reforms.

Malik discussed the legacy issues surrounding Independent Power Producers (IPPs), noting that IPPs established in 1994, 2002, and 2014 are collectively owed around Rs 80 billion. He called for investigations into any illegal transactions related to these agreements.

Addressing the broader context, Malik mentioned that while some power plants are government-operated or financed by Chinese banks, there is a pressing need for effective communication and problem-solving with involved parties.

The Minister also highlighted a forthcoming digital overhaul of the Federal Board of Revenue (FBR) expected to bring 4 to 5 million new taxpayers into the system, underscoring the challenge of managing these reforms with limited resources.