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Pakistan has sustained its record-setting and breaking zeal in the wider economy as it recorded an all-time high in electricity production and transmission of 24,467 megawatts (MWs) in one day on Wednesday. The accomplishment was accomplished by partially using the excess generating capacity, which has remained a major cause of costly electricity for end-consumers in the nation.
The necessary rise in demand for electricity generation and consumption was recorded on the basis of a recovery in the domestic economy, including in all the three main sectors, namely industry, agriculture, and services. Besides, residential customers have continued to update their houses with electrical and electronic products like high-power splits, other household appliances and gadgets.
“The record highest electricity was produced and transferred yesterday (August 11) at 24,467 MWs,” Federal Minister for Energy Hammad Azhar stated on his official Twitter account on Thursday.
This was his second tweet in roughly a month to announce all-time high electricity generation and transmission.
Last month, he tweeted, “The highest demand and supply of electricity in the history of Pakistan reached 24,284 MW. It represents not only greater demand and generation but also expanded transmission capacity. ” For comparison, the highest load recorded in 2020 on a single day was 23,370 MW and in 2018 (before the Pakistan Tehreek-e-Insaf established its administration in the centre), it was only 20,811 MW. “Average electricity demand and supply during these summer months is about 20 percent higher than last year,” Azhar stated in his latest tweet.
“This (increased generation and transmission) is excellent news for the circular debt.”
“Circular debt problems arise when the nation has the capacity to take or pay and the government is compelled to pay because the capacity is not being dispatched,” said Manoor, who has just been designated as Special Assistant to the Prime Minister on China-Pakistan Economic Corridor (CPEC).
The outstanding circular debt amount reached Rs2.37 trillion in the previous fiscal year that concluded on June 30, 2021. The circular debt and extra yearly capacity payment (which amounts to approximately Rs1 trillion in FY21) have together made electricity costly for end-consumers in the nation. Pakistan has installed capacity to generate about 37,000 MW of electricity while it holds dispatch capacity of approximately 26,000 MW.
Pakistan Electric Electricity Company (Pepco) former managing director Tahir Basharat Cheema stated the other day that the government’s pro-growth and industry-friendly policies had helped boost power output to an all-time high. The production of the large-scale manufacturing (LSM) segment, small and medium-sized businesses (SMEs) and export-oriented sectors has turned around in recent weeks. This has directly and indirectly boosted energy generation in Pakistan.
The nation has continued to record increased output in the previous two to three months on a month-on-month basis. Pakistan’s electricity generation reached a new high in full fiscal year 2021, as it increased 7 percent to 130,223 GWh in the year compared to 121,867 GWh in FY20.
“Power generation began to rise in December 2020 due to the announcement of an industrial power package by Prime Minister Imran Khan,” stated Topline Research analyst Sunny Kumar previously. “One of the major elements of the plan was the elimination of peak hours until April 30, 2021, which the government has stretched till June 2022.”