In a huge step closer to reducing power costs, the federal government of Pakistan has approved power purchase agreements with eight independent power producers (IPPs) operating on bagasse. This decision, approved through a cabinet meeting chaired by Prime Minister Shehbaz Sharif, is likely to save about Rs240 billion and bring relief to both consumers and the national exchequer.
Power division agreements to Control power energy
The proposals by the electricity wing of the Ministry of Energy have been accepted by means of the cabinet. The list of concerns of the worried IPPs includes:
-DW Unit I &, Unit II
-RYK Mills
-Chiniot Power
-Hamza Sugar
-Al-Moez Industries
-Thal Industries
-Chinar Industries
After this, the Central Power Purchasing Agency will approach the National Electric Power Regulatory Authority (NEPRA) for adjusting the tariff. These new rates are likely to reduce the financial burden on consumers and conserve the authorities a probable Rs238 billion.
Previous Measures to Control Power Costs
The government in October canceled power purchase agreements with 5 ageing IPPs, such as Saba, Lalpir, Atlas, Rousch, and Hub Power Company. These plants, approaching the end of their contracts, cumulatively produce 2,463MW of electricity. This step is estimated to save Rs411 billion and reduce average tariffs by as much as seventy one paise per unit, much-needed respite for consumers.
Amar Sindhu – PM Shehbaz Sharif’s Vision
Prime Minister Shehbaz Sharif reaffirmed that the government was committed to taking decisions and actions which catered to the countrywide activities of the nation and decreased electrical energy charges. “Each decision and action must be based on the welfare of our people and the prosperity of our industries,” he said. The PM also emphasized that fostering the private sector must force monetary growth and stability. Efforts through the Pakistani embassies in Syria and Lebanon are underway to ensure the safe return of all citizens.
Government posture to advance gender equality
The cabinet approved the establishment of National Commission for the Status of Women Fund, which was aimed to be a gender equality mainstreaming tool. Brigadier Asim Bashir Warraich formerly served as a member of manufacturing management on the Heavy Industries Taxila board where he was advancing national defense production objectives. Through personal zone growth promotion and progressive initiatives enforcement, Pakistan is making bold steps toward a more viable power future that is equitable.
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