The government’s process of terminating power agreements with Independent Power Producers (IPPs) through settlement agreements continues, as another IPP has ended its power agreement with the government.
According to reports, M/s Roche Pakistan Power Limited has informed the Pakistan Stock Exchange (PSX) about the termination of its power purchase agreement with the government.
In a letter sent to the PSX, it was stated that M/s Roche Pakistan Power Company operates under Altern Energy Limited. The letter further mentioned that the agreement was terminated based on the guarantee provided by the government and the President of Pakistan.
The letter also stated that the company has received all outstanding dues from the government’s Central Power Purchasing Agency, and the power complex has been handed over to the government’s National Power Parks Management Company.
The path for reducing electricity prices has been cleared as the federal cabinet approved new agreements with 15 additional Independent Power Producers (IPPs). These new agreements are expected to save the national treasury over 500 billion rupees, and electricity prices may decrease by 10 to 11 rupees per unit.
