Caretaker Minister for Power Syed Ali Zafar says the causes of load-shedding have been overcome and the electricity demand and supply gap will almost be zero in the current month.
He was addressing a joint news conference along with Caretaker Minister for Finance Dr. Shamshad Akhtar in Islamabad on Tuesday.
Mr. Zafar expressed hope that power generation will increase next month and load-shedding will be totally overcome.
About the ongoing loadshedding, he said there was extreme shortage of water in dams and Port Qasim and Balloki power plants also developed technical faults, which caused over 5000 MW reduction in power in the national grid.
“He said water level in dams has increased after rains and the technical faults in the plants have been removed, and now the situation has considerably improved,” he said.
The country is facing 2000 MW shortfall, he said.
Zafar, who also holds portfolio of Information Ministry, assured that they will fully support to the Election Commission to hold free, fair and peaceful elections.
“Caretaker government will make no compromise on security of the country and take all necessary decisions in best national interest,” he said.
Speaking on the occasion, the caretaker Finance Minister said the recent increase in oil prices is linked to the rise in prices of petroleum products in international market.
She said only 50% impact of the increase in international market has been passed on to the consumers.
“Oil prices in Pakistan are still lower as compared to the neighboring countries of the region,” she said.
The minister said the country will not enter into any agreement or negotiations with IMF. She, however, said the caretaker setup will take care of the macroeconomic challenges being faced by the country.
The minister said current account deficit is increasing and it has reached $14b, 1.6% of the GDP.
She said exports are showing positive trend; fiscal deficit is running at a higher level of 6.1% against the target of 4.1%; and overall public debt is also rising.
Answering a question, the Finance Minister said the caretaker government will honor debt repayments.