ISLAMABAD  - The PML-N govt under its newly formulated energy policy has designed a strategy to achieve zero load shedding by inducting 26,800MW of electricity into national grid within next three years, official sources said on Tuesday.

Upset by the rising shortfall coupled with sky rocketing power tariff hike at the end of each passing month due to fuel cost variation, the Pakistan Muslim League (Nawaz) led federal government is leaving no stone unturned to fulfil the promise which the part (PML-N) had made on various occasion during its election campaign 2013.

The sources informed that the government had a plan to reduce the inflated cost of electricity by 30pc, encourage huge public and private investment and import electricity from India, Iran and Central Asian states, achieve zero loadshedding in three years. They said a comprehensive final briefing regarding the issue would be delivered to Prime Minister Mian Nawaz Sharif on 27th June, and would be further shared with other Provincial governments on 29th June, meeting of CCI (Council of Common interests), when the Provincial governments would be taken into confidence.  Following the formalities, the Prime Minister would announce the new energy policy of increasing electricity from its present of 12,200 MWs to 28,200 MWs, while bringing its average production price from Rs 14.67 to Rs 10 per unit. 

They said the new energy policy would evolve around four basic concepts, which include balancing the supply, demand factor, ensuring affordable tariff for electricity consumers, reduce thefts and making investment in energy sector an attractive prospect.

Quoting the decision of Monday meeting held under the premier Muhammad Nawaz Sharif, sources said under the new energy policy, four separate sectoral policies would be put in place to cover four major areas of the power sector - supply chain of the power sector, generation system, transmission and distribution system.

The overarching target of the policy is to increase generation from the current 12,200MW to 26,800MW in the medium term (3-5 years) and reduce average generation cost from Rs14.67 per unit to about Rs10 per unit by bringing in efficiency, merit order and transparency in the entire spectrum of the power sector.

Under the supply chain policy, cost neutrality would be introduced by extending oil and gas pipelines to power stations to reduce oil and gas theft and losses during transportation because a major loss was currently taking place due to transportation of furnace oil through tankers.

They further said under the policy the PML-N government would also envisage activation of unutilised gas resources for production of electricity, in collaboration with national and foreign companies.

All the supply orders of gas and oil would be undertaken on merit, while payments would be made according to basic principles of ensuring the production and supply to a maximum stretch, they added.