ISLAMABAD: President Asif Ali Zardari Saturday said power and energy was most critical for economic development of the country and directed swift measures to end load shedding and power shortages on war footing. During a detailed presentation on “International Competitive Bidding for New IPP and Rental Power Projects on Fast Track” the President asked the Ministry and Planning Commission to consider new and innovative models to attract international investment in energy sector.

The presentation team was led by Minister for Water and Power Raja Pervez Ashraf.

The President asked the team to study the models of other countries that have addressed their power crisis through international investments.

He said setting up of dedicated power plants for specialized sectors like the industrial units should also be given consideration.

The President evinced keen interest in the measures taken for resolving the power crisis in Karachi and asked that the required steps be taken expeditiously.

He said that he will chair another meeting on the power situation in Karachi and other parts of the country that had been affected by electricity shortages that have had a negative impact on the national economy and caused hardships for the people.

The progress made and the issues involved in raising of Mangla dam and de-silting of Tarbela dam were also discussed during the meeting.

Earlier the federal Minister for Water and Power Raja Pervez Ashraf mentioned the steps taken so far to end load shedding by the end of next year.