ISLAMABAD  - The Asia Pacific Corporation (APC) would present its investment plan worth of $10 billion to the new government of Pakistan Muslim League Nawaz (PML-N) to overcome power crisis in the country.

Sources informed that Consortium leaders of Asia Pacific Corporation (APC) would present its proposals to the new government regarding replacement of existing gas meters with smart meters and gas leakage detection and reduction in the existing gas transmission and distribution system of the Sui Northern Gas Pipelines Ltd. (SNGPL) and Sui Southern Gas Company Ltd (SSGC) network. Sources were of the view that APC investment package worth of $10 billion would save 7,000 megawatt in the power sector while in the gas sector a significant quantity of the total UFG of 108,683 MMCF/year will be saved. The Consortium leaders of Asia Pacific Corporation (APC) presented their plan to the former PPP led coalition government in September 2012 to overcome energy crisis. However, the former government did not give due attention to investment plan and resultantly the power crisis has deteriorated in the country. Sources said that power situation could improve in the months to come if PML-N government implemented the plan in the country. The APC would make $9 billion investment in the power sector and $1.5 billion in the gas sector.

The Energy Efficiency Programme proposed by Asia Pacific Corporation included replacement of 23 million existing electric meters with smart meters, which would save 2,000-megawatt electricity in the country. The consortium would invest $5 billion in replacing the electric meters. Similarly, the APC consortium would invest $1.5 billion in rehabilitation, upgradation and improving the performance of National Transmission Dispatch Company (NTDC) that could save 2000-4000 megawatt electricity in the country. According to the project plan, the APC consortium would make $3 billion investment in providing energy savers and streetlights at subsidise rates in the country. The country could save 1500-megawatt electricity by using efficient energy savers (CSFLi).

Asia Pacific Corporation with the support of its financial advisor and co-coordinator are in a position to mobilise over $10 billion investment through corporate sources for the proposed programmes.  It is pertinent to state that APC and partners have already completed the arrangements for mobilisation of necessary funds for the proposed programmes and implementation will begin immediately after signing of the LOIs., the drafts of which have already been submitted to the ministry of water and power and ministry of petroleum and natural resources. It is further important to note that government of Pakistan will not be required to make any advance payment.

Repayments will be for power/ gas saved as determined in the feasibility report and as per agreements executed between GOP and the project sponsors, meaning “Pay As You Earn”.