ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed the Pakistani energy ministry to maximize utilization of renewable energy resources in order to reduce the country’s oil import bill, Pakistani state media reported.

The remarks came at a meeting he presided over to review the country’s power sector, according to a report published by the Radio Pakistan broadcaster.

The prime minister said that oil imports worth billions of dollars could be controlled by using alternative resources like solar, wind and hydel power.

“The country currently imports oil worth 27 billion dollars to meet its power and transportation needs,” Sharif was quoted as saying in the report.

“In the future, only clean and low-cost hydropower and renewable plants will be installed in the country.”

Pakistan, which has been struggling with a balance of payments crisis, record inflation and steep currency devaluation, lacks adequate resources to run its oil- and gas-powered plants and imports most of its energy needs.

The South Asian country is currently looking to secure cheaper energy imports and alternate ways to lessen the cost of power generation.

The prime minister asked authorities to speed up efforts for foreign investment in solar energy projects as well as to accelerate the process of privatization of power generation companies and auction of inefficient power houses.

He lauded the performance of the Punjab government in the ongoing drive against power theft and expressed hope that other provinces would also follow suit to overcome the challenge.

“All possible measures are being taken to reduce the per unit price of electricity for the common man,” PM Sharif added.