ISLAMABAD   -   Prime Minister Shehbaz Sharif on Tuesday said that the government and all of its relevant departments were purely focused on providing low-cost electricity to domestic and other consumers besides bringing in reforms to achieve economic stability.

“Our sole focus is to reduce power prices to provide relief to domestic consumers, agriculture, industry, exports and business sectors. This is inevitable to steer the economy of prevailing issues. The competitiveness of exports is linked with the cheap electricity,” the prime minister said addressing the newly appointed chairmen and board members of the power distribution companies (DISCOS).

The participants included the board members and chairmen of Lahore Electric Supply Company, Islamabad Electric Supply Company, Faisalabad Electric Supply Company, Multan Electric Power Company and Hazara Electric Supply Company.

Calling the low-cost electricity and efficient power transmission system the major factors for a stable economy, he said the Special Investment Facilitation Council (SIFC) were focused on achieving the said targets. He told the participants that the government would publicly recognise the Discos members and heads who would put in their maximum efforts to bring improvements, but those failing to do so would neither be spared nor would remain part of the team.

The prime minister said through a lengthy process, the government had appointed highly competent and experienced people in DISCOS purely on merit by doing away with the political appointees. He said the newly appointed chairmen and members had great challenges ahead which necessitated working hard day and night to purge the DISCOS of mismanagement and corruption.

He said the power theft had swelled to around annual Rs500 billion mainly due to connivance with the DISCOS staffers who were also the reason behind destroying the institutions. “This is the greatest challenge for you. The government has made deliberations as to how the system should be improved. You will have to show your best”, Prime Minister Shehbaz said.

He said that the circular debt had touched Rs2300 billion - almost one-third of the country’s total receipts of Rs9 trillion last year. Can a country be run with such a huge burden?” he questioned.

Highlighting the issues of line losses and weak transmission systems, he instructed the immediate launch of smart metering in some of the DISCOS.

He told the meeting that the government was in talks with China to run power plants with a mix of coal to save $1 billion annually. The prime minister recalled the installation of liquefied natural gas (LNG) plants during Nawaz Sharif’s tenure almost a decade ago with 63% efficiency and almost on half of the National Electric Power Regulatory Authority (NEPRA) tariff which manifested the government’s commitment and willingness to bring improvement.

The prime minister said that the digitization of the DISCOs should be the foremost priority and that after their reforms, the companies would be outsourced and privatised.

In the meeting, the prime minister was told that under the SOE Act, the DISCOs enjoyed autonomy in the policymaking.

Federal ministers Ahad Khan Cheema, Abdul Aleem Khan, Muhammad Aurangzeb and Awais Ahmed Leghari, Special Assistant to PM Muhammad Ali, Coordinator to PM Rana Ehsan Afzal and relevant senior officers attended the meeting.

Also, Prime Minister Muhammad Shehbaz Sharif has stressed to reduce cost of production for revival of industry and agriculture sectors.

Presiding over Federal Cabinet meeting in Islamabad today, he said the initiatives taken by the government to improve the various sectors including power secotor are yielding positive results.

The Prime Minister said reforms in Federal Board of Revenue are inevitable for enhancing tax collection and development of the country. He said FBR can be revitalizing by cutting red tape, streamlining routine paperwork, and digitizing entire process.

He also paid glowing tribute to Arshad Nadeem who won gold medal in Javelin Throw competition for Pakistan after a span of forty years and created a new record at Paris Olympics.

Talking about celebrations of Independence Day, Shehbaz Sharif said the nation will celebrate Independence Day in a befitting manner with national zeal and fervor tomorrow.

He said on this day we will reaffirm our pledge to remain steadfast and serve country with utmost devotion and dedication.

The Cabinet also offered fateha for departed souls of Deputy Commissioner Panjgur Zakir Baloch and Shaheed Lieutenant Uzair Mehmood Malik for sacrificing their lives for country.

Meanwhile, the federal cabinet has directed the departments concerned to take all possible measures to prevent rise in the prices of urea fertilizer.

The cabinet, which met in Islamabad today with Prime Minister Shehbaz Sharif in the chair, also instructed to ensure provision of uninterrupted gas supply to urea plants even after the next month instead of importing the fertilizer.

The meeting remarked that agriculture is a backbone of the country and reduction in agricultural inputs should be ensured to bring down per acre cost of farmers.

The cabinet also approved enhancing members of the Privatization Board from eight to eleven. It is pertinent to mention that on the direction of Prime Minister Shehbaz Sharif, only women will be appointed on these three posts in light of Prime Minister Shehbaz Sharif’s direction to increase female representation in key boards of the country.

On the occasion, the Prime Minister also sought a comprehensive privatization plan of State Owned Enterprises, whose denationalization has already been approved.

The cabinet also approved regularization of teachers working on daily-wages in the Federal Directorate of Education, Islamabad.

Besides, approval was granted to sign Memoranda of Understanding with Guatemala and Ecuador on political consultation.

Prime Minister Shehbaz Sharif has announced cash prize of one hundred and fifty million rupees for the Olympic Champion of Javelin throw Arshad Nadeem.

He was addressing a banquet arranged in honour of the Olympic Champion of Javelin throw Arshad Nadeem in Islamabad tonight.

Paying rich tribute to Arshad Nadeem for his huge success in Paris Olympics 2024, he said Arshad Nadeem is the bright example for all young athletes.

The Prime Minister said that success of Arshad Nadeem provides an ample prove that meager resources, difficulties and challenges are not the hurdle in the way of success.

He announced the name of Road between F9 and F10 sectors in Islamabad after Arshad Nadeem.

Shehbaz Sharif announced the establishment of Arshad Nadeem High Performance Academy at the Jinnah Stadium Islamabad, where athletes and players will be trained for the 2028 Olympics.

He announced a sports endowment fund of one billion rupees.

The Prime Minister also announced the award of Hilal Imtiaz to Arshad Nadeem for his excellent performance and winning gold medal for Pakistan in Olympics after 40 years.

Earlier, Arshad Nadeem, his mother and his family members were welcomed by the Prime Minister over his arrival at the Prime Minister House.