ISLAMABAD: Prime Minister Shehbaz Sharif has approved the Integrated Generation Capacity Expansion Plan (IGCEP) 2024–34, a transformative 10-year roadmap for Pakistan’s power sector aimed at cutting electricity costs, eliminating circular debt, and boosting transparency and efficiency.
The newly approved plan targets \$17 billion in savings through the *rescheduling and cancellation of 7,967 MW of previously planned projects. Officials estimate a reduction in national economic burden by *Rs 474.3 billion and overall savings of Rs 2,790 billion (\$10 billion) through revised timelines. An additional Rs 1,953 billion (\$7 billion) is expected to be saved by dropping costly and redundant projects.
Under IGCEP 2024–34, the original 14,984 MW plan has been reduced to *18 projects totaling 7,017 MW, with emphasis on strategic hydropower developments such as **Dasu and Mohmand Dams. A priority portfolio of *7,987 MW from indigenous sources — including hydropower, solar, nuclear, and wind — aims to reduce reliance on imported fuels and strengthen energy security.
Prime Minister Shehbaz has instructed the Power Division to accelerate structural reforms, tackle line losses, electricity theft, and corruption in distribution companies. “Renewable energy must be promoted to protect the climate and reduce dependence on costly imported fossil fuels,” he emphasized.
The Ministry of Water Resources has been tasked with ensuring timely completion of key hydropower projects and avoiding cost overruns. The Chairman of WAPDA is required to submit regular progress reports to the Prime Minister.
To address inter-ministerial bottlenecks, a high-level oversight committee has been formed under the Minister for Petroleum to synchronize LNG demand with power sector needs and address gas sector circular debt, pricing inefficiencies, and UFG (Unaccounted-for Gas) losses.
The Power Division has been given three months to complete a feasibility study on imported coal-fired power projects. A comprehensive presentation on LNG and energy sector reforms will be submitted to the Prime Minister in due course.
Story by Mushtaq Ghumman
