Six more IPPs agree to govt’s terms for cheap electricity

ISLAMABAD: The incumbent government of the Pakistan Tehreek-e-Insaf (PTI) has reached another milestone, as talks with six more independent power producers (IPPs) for cheaper electricity in the country remained successful.

According to the details, the government team had successful deals with six new IPPs for affordable electricity. So far 47 IPPs with an overall production capacity of 7450MW electricity have agreed to sign the agreement with the government for a cheaper power supply to the consumers.

After the federal cabinet, and the Economic Coordination Committee’s (ECC) approval, the official contracts signing will take place instantly.

Read more: Energy ministry hikes electricty unit prices by Rs1.95

It may be noted that earlier last week, the energy ministry hiked electricity tariffs by Rs1.95 per unit which it claimed is due to a hefty circular debt thanks to previous governments.

We could jack the prices by Rs2.18 per unit but we did not want to “burden the masses” so we only increased 23 per cent in tariff, said the federal minister for energy Omar Ayub in a joint presser today accompanied by the federal planning minister Asad Umer and Prime Minister’s aide on energy Tabish Gauhar.