SIFC accelerates journey to energy self-reliance

Islamabad (Web Desk): Reforms introduced in the energy sector under the Special Investment Facilitation Council (SIFC) have significantly accelerated the country’s progress toward energy self-reliance.

Over the past year, operations targeting electricity theft have led to the recovery of nearly Rs86 billion, marking a major breakthrough in tackling power pilferage.

Efforts are also underway to address the issue of circular debt through the implementation of a well-devised, long-term strategy aimed at improving financial discipline within the power sector.

In addition to these reforms, a number of power generation projects have reached completion.

These include a 150-megawatt plant in Sukkur, a one-megawatt solar power project in Gilgit-Baltistan, and a large-scale three-gigawatt solar facility in Karachi.

Construction work has also begun on two hydropower projects with a combined capacity of 70 megawatts in Azad Kashmir.

Meanwhile, a partnership has been established between the Northern Power Generation Company Limited and a Chinese enterprise for the development of a 300-megawatt solar power plant.

Investment by Shanghai Electric in Thar Coal Block 1 has further bolstered the shift toward energy independence by tapping into local coal resources.

In the oil sector, three existing refineries are set to be upgraded, attracting an anticipated $6 billion in investment to modernize and expand refining capabilities.

Gas exploration activities have also yielded promising results, with Mari Petroleum making new discoveries in Attock, Waziristan, and Dadu, enhancing domestic supply.

Furthermore, the ongoing privatisation of power distribution companies is expected to contribute to improved service delivery and greater operational efficiency across the electricity network.