Prime Minister Muhammad Nawaz Sharif on Thursday directed the officials concerned to take all necessary steps for overcoming the energy crisis faced by the country.
Chairing a high-level meeting to review the energy situation at the PM house, the prime minister directed Water and Power ministry and other stakeholders to take all possible measures to ensure that issue of circular debt would not arise again.
The meeting was also attended by Finance Minister Ishaq Dar, Information Minister Pervez Rashid, Water and Power Minister Khawaja Asif, MOS for Privatization Eng. Khurram Dastagir and Water and Power State Minister Abid Sher Ali.
The prime minister was briefed that through implementation of an effective monitoring and checking system, line losses have been reduced. He was informed that speedy work is in progress on projects initiated by the Water & Power Ministry to increase production and ensure efficiency in the transmission system.
Nawaz was informed that LNG import shall start from next year which would help in reducing gas load-shedding in the country. He was informed that prices for LNG imports are being negotiated in a transparent manner and efforts are made to make cheaper LNG available for local consumers.
The meeting was also attended by Secretary Petroleum Abid Saeed, Water & Power Secretary Saifullah Chattha and other senior officials.
While chairing another meeting on low income housing schemes, Nawaz Sharif said that his government is giving priority to solving the housing problem in the country by ensuring affordable and cost-effective housing units to the ordinary citizens and that allocation of Rs 3.5 billion in 2013-14 has been made in the federal budget for this purpose.
The premier emphasised that the objective is to provide subsidised financing to first-time house owners and the committee recommended that the Participating Financial Institutions (PFIs), which are Banks and HBFCL, will give financing from Rs 1.5 million to Rs 5 million to the eligible people.
The committee apprised the prime minister that the eligibility criteria for the housing scheme included first-time house owner for self occupancy, regular cash flows and being in line with SBP Prudential Regulations on housing finance and credit policy of PFIs.
Nawaz was further apprised that under the proposed policy, there will be a 25% – 40% growth in available housing units over the coming five years.