Cabinet Approves of Settlement Agreements with Eight IPPs to Reduce Power Tariffs

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

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.

Cabinet’s IPPs Settlement Agreements Slashed Power Tariffs, Yielding Rs238 Billion in Public Savings and Exchequer Benefits.