ISLAMABAD: The Federal Cabinet, under the leadership of Prime Minister Shehbaz Sharif, approved settlement agreements on Tuesday with eight bagasse-based independent power producers (IPPs).
The decision, made on the recommendations of the Ministry of Energy and the Power Division, is expected to significantly reduce electricity tariffs.
The approved IPPs include DW Unit I, DW Unit II, RYK Mills, Chiniot Power, Hamza Sugar, Al-Moez Industries, Thal Industries, and Chinar Industries. Following the agreements, the Central Power Purchasing Agency (CPPA) will approach the National Electric Power Regulatory Authority (NEPRA) to formalize the tariff reductions.
According to the Prime Minister’s Office, these settlements are projected to lower electricity costs for consumers and yield savings of Rs 238 billion for the national treasury.
Prime Minister Shehbaz Sharif reiterated the government’s commitment to reducing electricity prices for the general public, emphasizing the importance of prioritizing national interests in all decisions. He also highlighted the government’s focus on fostering private sector growth and promoting industrial development.
In the same meeting, the federal cabinet approved the appointment of Brigadier Asim Bashir Warraich as Member of Production Control on the Board of Heavy Industries Taxila, as recommended by the Ministry of Defence Production.
The cabinet also sanctioned the establishment of the National Commission for the Status of Women Fund, based on recommendations from the Ministry of Human Rights.
These measures underline the government’s ongoing efforts to improve governance and address critical economic and social challenges.
