ISLAMABAD - Federal Minister for Energy Omar Ayub Khan on Monday said the gov­ernment would announce power sec­tor reforms within three weeks which would also include details of the ex­pected reduction in cost of power generation resulted from agreements with IPPs. 

Omar Ayub said the agreements had been signed with all Indepen­dent Power Producers (IPPs) while with the government owned genera­tion plants would be finalized in com­ing weeks. 

Addressing a news conference along with Special Assistant to Prime Minis­ter on Power Shahzad Qasim, he said the agreements would lead to reduc­ing cost of power generation, circular debt and improve electricity transmis­sion/distribution system in the coun­try. Omer Ayub said that agreements with the IPPs established under the power policies, 1994, 2002 and 2006 had been signed. 

However, the minister refrained from telling details saying that detailed com­putations and savings would be made available in three weeks. In three weeks power sector reforms would be unveiled, he added. He said the agreement, signed in the country’s best interest, would also promote industrial sec­tor. He said the government was in­troducing power sector reforms and work was in final stage. 

The government would announce in three weeks time a detailed reform plan for the power sector including the expected reduction in cost of pow­er generation through revised agree­ments with power producers, improve­ment in transmission and distribution system. 

Omar Ayub said the previous gov­ernments did not focus on address­ing issues of the power sector and no serious efforts were made to resolve the issues faced by the sector. 

He said a comprehensive plan in co­ordination with government of Ba­lochistan and other stakeholders was also being made part of the power sector reform plan. 

“Keep this in mind that power sec­tor reforms and improvement in transmission system and distribu­tion system will ensure competitive tariffs to the industry and agriculture to help them stand on their own feet,” the minister maintained.