Cabinet gives nod to 8 IPPs settlement agreements to bring down power tariff

Islamabad (APP): The federal cabinet in its meeting, with Prime Minister Muhammad Shehbaz Sharif in the chair, on Tuesday approved settlement agreements with eight independent power plants (IPPs) running on bagasse.

The meeting granted its approval on the recommendation of the Ministry of Energy and the Power Division.

These power plants included DW Unit I, Unit II, RYK Mills, Chiniot Power, Hamza Sugar, Al-Moez Industries, Thal Industries and Chinar Industries.

After the approval of these agreements, the Central Power Purchasing Agency would contact NEPRA regarding a reduction in the power tariffs produced by these power plants.

As a result of these agreements, electricity prices for the general public would decrease and the national exchequer would benefit by Rs238 billion rupees, PM Office Media Wing said in a press release.

Addressing the meeting, the prime minister said the government was taking all possible steps to reduce electricity prices for the common man.

He emphasized that the national interests should always be prioritized in every decision and action and also mentioned that the promotion of the private sector and industries in the country was a key priority for the government.

The federal cabinet was also briefed on the latest situation in Syria and the evacuation of Pakistanis from there.

The cabinet was informed that out of 250 Pakistani pilgrims in Syria, 79 had reached Beirut, from where they would be brought back to Pakistan.

Additionally, out of 20 teachers and students in Syria, seven teachers had also reached Beirut.

The meeting was further informed that the officials of the Pakistani embassies in Syria and Lebanon were taking all possible measures to ensure the safe return of Pakistanis from Syria.

The federal cabinet approved the appointment of Brigadier Asim Bashir Warraich as Member of Production Control on the Board of Heavy Industries Taxila, on the recommendation of the Ministry of Defence Production.

The federal cabinet also sanctioned the establishment of National Commission for the Status of Women Fund, on the recommendation of the Ministry of Human Rights.