ISLAMABAD: Minister for Power Division Omar Ayub Khan on Tuesday said that the country suffered huge loss due to wrong agreements both in power and petroleum sectors by the past governments.

He said that the incumbent government under the leadership of Prime Minister Imran Khan was going to rectify all those agreements. Around 70 per cent of electricity was being generated through imported fuel including coal, gas and oil due to the policies of past governments, he said.

He said the incumbent government has given special attention to completely change the energy mix and generate 30 per cent electricity from Renewable Resources including solar, wind and baggies by 2025. Similarly, measures were being taken to generate 70 per cent electricity from indigenous resources by 2030, he said and added the government has approved Renewable Energy Policy with the consultation of all stakeholders to materialize this dream.

Giving the details, the minister said that share of RE would be 30 per cent, hydel 20 per cent and Thar Coal 10 per cent.

He said the past governments had left many landmines in power sector which was being gradually cleared and defused.

In past, agreements were signed with power companies to purchase Rs 24 per unit while the incumbent government has inked agreements to buy Rs 6.5 per unit electricity.

The minister said power plants were being set up through competitive bidding and the power producer companies would be able to sell electricity in any corner of the country through wheeling policy.

He said the government policies would bring fruits and prices of electricity go down.