Termination of contracts with eight IPPs on cards, reveals Atta Tarar
Pakistan
Closure of IPPs will reduce electricity bills and save billions
ISLAMABAD (Dunya News) - Federal Minister for Information Attaullah Tara revealed plans about termination of agreements with eight independent power producers (IPPs).
He said termination of contracts with five IPPs help in bringing down the electricity prices leading to a positive impact on the economy as well.
Addressing the National Assembly floor on attention calling notice, he stated that reduction in electricity prices was the PM Shehbaz Sharif’s first and foremost priority.
He also mentioned that NEPRA reduced 86 rupees per unit on fuel price adjustment yesterday.
He highlighted the federal government’s people friendly measures including Rs 5 billion subsidy for consumers using up to 200 electricity units while government provided Rs 276 million subsidy upto 300 units every year.
Tarar mentioned that K-Electric was being provided a subsidy of 174 million while lifeline and non-life line consumers were already being provided subsidy annually. However, users were given additional subsidies this year.
The government was more focused on the issues of power, he asserted. Attaullah Tarar stated that fuel cost adjustment and closure of IPPs reduced the electricity bills.
Information minister stressed that increase in foreign exchange reserves, new records in stock market and reduction in interest rate were the positive indicators of economic development and progress.
