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PR No.61 President World Economic Forum called on SAPM for Petroleum ……Nadeem Babar Islamabad: July 11, 2019

SAPM for Petroleum Mr Nadeem Babar apprised President WEF on government’s new policy on renewable energy and shared details on energy consumption of country. Mr Nadeem Babar said, “We have set our target to achieve gradual increase in renewable energy production, which will be increased up to 20% by 2025 and 30% by 2030. Our main goal is to achieve 60% clean energy including hydel by 2030.” SAPM for Petroleum told President WEF that incumbent government has significantly reduced theft and recovery. The number has been increased to 80% feeders free from load shedding by executing recovery raids. Apprising honorable guest on gas sector, Mr Nadeem Babar said, “We have introduced tier system in gas prices to bring price closer to cost, yet protecting the lower segment of society. We have also subsidized the gas prices for export-based industries to make them competitive.” President WEF praised the improved security and energy situation of Pakistan. He also appreciated new renewable energy policy and offered WEF forum for propagation of policy to reach larger audience. ***** ?

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