Revisiting contracts with IPPs to help reduce circular debt: PM Imran

ISLAMABAD: Lauding the amendments made to the agreements with the independent power producers (IPPs) by mutual consent, Prime Minister Imran Khan on Monday said that revisiting the contracts will help reduce the country’s circular debt, ARY News reported.

Presiding over a high-level meeting on reforms in power sector, PM Imran said that the energy sector was adversely affecting the country’s economic growth. He said that reforms in power sector vital to reduce burden on consumers.

He directed Federal Minister for Energy Omar Ayub Khan to inform the masses about the possible benefits of new agreements with the IPPs.

Minister for Planning, Development and Special Initiatives Asad Umar, Special Assistant to PM on Power Division Shahzad Qasim, Special Assistant to Prime Minister (SAPM) on Petroleum, Nadeem Babar and others were present in the meeting.

Earlier today, Federal Minister for Energy Omar Ayub Khan had said that the federal government remained focused on reducing electricity tariff and it required three weeks for introducing reforms in the power sector.

Omar Ayub, while addressing a press conference alongside Special Assistant to Prime Minister on Power Division Shahzad Qasim, had said that the previous governments had not paid attention to resolve energy-related issues. The present government would introduce reforms in the said sector and more details will be presented before the nation in the next three weeks, the energy minister had said.