Dar for achieving timelines on energy projects

ISLAMABAD: Finance Minister Ishaq Dar on Monday directed the ministries concerned to achieve all timelines by implementing the power sector reforms which will pave the way for $900 million development policy credit (DPC) from the World Bank (WB) and Asian Development Bank (ADB).
Earlier, the government had missed its desired deadline to get both DPCs from the multilateral donors before completion of last financial year that ended on June 30, 2015.According to statement issued by Finance Ministry on Monday, Federal Minister for Finance Senator Ishaq Dar chaired a meeting at the Finance Division to review progress on DPC on Energy.
The Minister was briefed on the status of various Policy Actions under the programme being funded by the World Bank and Asian Development Bank. The Minister stressed the need to keep the pace of the power sector reforms and make the sector sustainable.
Various timelines were discussed and the Minister stressed the need to follow the timelines. He said, “Our aim is to complete the DPC on Energy as soon as possible and for this purpose we have prepared a detailed plan in consultation with the Ministry of W&P. We are hopeful that our targets will be achieved as far as possible.”
The meeting was attended by Secretary Finance Dr Waqar Masood, Secretary W&P Younas Dagha and other senior officials of the Ministry of W&P and Finance.Meanwhile, in a separate meeting, Chairman Nepra Brig Tariq Saddozai along with his team called on Dar at the Finance Division. Dar appreciated the role of Nepra as an efficient regulator in the power sector maintaining a balance between the interests of the consumers and the rights of the investors. He also appreciated the efforts of the members of NEPRA in performing their duties efficiently.
The Minister directed Secretary W&P to work in collaboration with all the authorities including Nepra concerned with service providing in the power sector for improving the overall system of power supplies for the benefit of the common man and for the progress of the country.
The meeting was participated by members of Nepra from Punjab, Khawaja M Naeem, Sindh, S Masoodul Hassan Naqvi and KP Himayatullah Khan along with the senior members of Ministry of Finance and Ministry of Water & Power.