ISLAMABAD: PTI-led federal government announced that it has reached an agreement with independent power producers (IPPs), which is being dubbed, as the first major step towards providing cheap electricity to the consumers.
Addressing a press conference along with Information Minister Shibli Faraz, Special Assistant to PM on Power Division Shahzad Qasim said, “We have successfully held talks with the IPPs and signed a renewed deal with them.”
He further said that the government has secured a deal with the IPPs, linking the profit of local investment with the rupee. “Under the agreement, the equity would be paid in rupees instead of dollars,” he added.
The Special Assistant informed that the National Electric Power Regulatory Authority (NEPRA) would examine the performance of the power units run by the IPPs.
On the occasion, Information Minister Shibli Faraz informed that they could not unilaterally nullify the agreement with the IPPs. “Therefore the task force formed by Prime Minister Imran Khan reviewed the power agreement,” he added.
He also criticized past governments in this regard and said that in past power generation plants were installed without any proper planning. “None of the government in the past held talks with them to provide electricity at a low price,” he added.