Energy minister vows to reduce electricity prices thru consultation with IPPs
Business
The government plans to create an open market for electricity, allowing buyers more freedom
ISLAMABAD (Dunya news) – Federal Energy Minister Sardar Awais Lagari has announced that the government is working on reducing electricity prices by consulting with power generation companies.
During a press conference in Islamabad, Lagari stated that the goal was to bring electricity prices within reach of public, aiming to reduce the cost by Rs10 per unit.
He explained discussions with Independent Power Producers (IPPs) have begun to review contrast and determine which plants are necessary. Initial talks with five IPPs have led to mutual agreements, resulting in substantial savings.
Lagari praised the government ‘s efforts, noting Rs41 billion has been saved so far, with Rs17 billion directly benefiting the public.
The minister also highlighted the support of the Army Chief’s task force in achieving reforms and further emphasized the need for ongoing changes in the electricity sector.
In addition, the government plans to create an open market for electricity, allowing buyers more freedom.
