• PM says Govt implementation strategy for sustainable energy reforms.
• Instructs the authorities to ensure timely implementation of strategic projects.
• The minister says the government will return from the purchase of direct power.

Prime Minister Shehbaz Sharif on Wednesday approved a revised 10-year National Electricity Outline Policy, which significantly reduced planned purchases from 14,000 megawatts (MW) to approx. 7,000 MW, the Minister of Power said in a statement.

The move aims to cut the country’s dependence on expensive, long -term contracts and promote market -driven solutions.

The Prime Minister was chairman of a high -level meeting to review the integrated generational capacity expansion plan (IGCEP) 2024–2034, which confirmed the government’s obligation to reduce electricity prices and implement sustainable reforms in the energy sector, a Prime Minister’s office said in the office.

“After delivering relief to the people with a significant dust reduction, we are now implementing an effective strategy for reforms of sustainable energy sector,” said the prime minister.

The Prime Minister instructed the power authorities to ensure timely implementation of strategic projects such as Diamer Bhasha Dam and emphasized the need for a robust system to utilize the country’s water and power resources.

“Any delay in energy projects is unacceptable,” he said, adding, “we are moving towards establishing a free electricity market in the country very soon, which will promote competition and lead to further reduction in power -rhyme.

The prime minister was informed that Igcep had been thoroughly reassessed on his instructions and revealed spaces for improvement.

The revised plan, prepared through dedicated efforts by the Ministry of Energy, adapts better with grounded realities and future demands.

The main highlights of the briefing included the implementation of competitive bids for upcoming power production processes over the next ten years.

Expensive power projects a total of 7,967 MW are removed from the plan. The revised project time lines and the exclusion of expensive ventures will result in estimated $ 17 billion savings (RS4,743 trillion).

Native resources and alternative energy sources, such as solar, nuclear and hydropower, will be prioritized rather than imported fuels, leading to significant currency savings.

In addition, the gradual phase -out of capacity payments to power producers are part of the reforms.

PM Shehbaz praised the federal minister of power Sardar Awais Leghari and his team for their efforts and called the massive savings a “historical success” for Pakistan.

The meeting was attended by the Minister of Power, Minister of Economic Affairs Ahad Khan Cheema, Minister of Information Attaullah Tarar, Minister of Petroleum Ali Pervaiz Malik and senior officials from relevant departments.

Meanwhile, the Minister of Power said in a statement that the government, with this shift, intended to save RS4,743 trillion and hide consumers from rising costs.

“The government has canceled plans to acquire 7,000 MW electricity to facilitate financial pressure on households and businesses,” the minister said.

Leghari said the administration came back from direct involvement in power purchases and dropped the “single buyer” model.

“Instead, future transactions will occur through competitive markets to ensure transparency and efficiency,” the minister added.

To term the reforms as “more critical than ongoing conversations with independent power producers (IPPs),” the Minister of Power emphasized that they were more important than revising existing agreements with IPPS.

“This audit prioritizes public welfare and fiscal responsibility,” Leghari added, signaling a broader push to stabilize Pakistan’s energy sector.