The government has entered into agreements with six power generating companies.

So far, 19 IPPs have agreed on a new agreement with the government. Under the new agreement, electricity rates will be reduced and circular debt will be reduced, sources said.

Islamabad The federal government has reached an agreement with 6 new IPPs. According to media reports, an agreement has been reached between the government and power generating companies. It was informed that the parties have agreed to reduce the tariff. Another major step has been taken in the talks between the government team and the IPPs.
Under the new agreement, electricity rates will be reduced and revolving loans in the country will be reduced. 19 IPPs, including solar, gas and sugarcane, have signed government agreements. After successful negotiations between the government team and six more IPPs, so far 19 IPPs have agreed to a new agreement with the government. The government has agreed with 6 IPPs to reduce tariffs and other concessions.

Agreements with IPPs will be finalized after approval by the federal cabinet and their boards. The agreements will help significantly reduce electricity revolving debt and tariffs. The government will benefit from Rs 836 billion in the remaining period of power purchase from IPPs. The agreements will help completely eliminate past liabilities and revolving debt in the power sector.

It may be recalled that a statement issued by the Federal Minister Asad Umar a few days ago regarding the ongoing talks between the government and the IPPs to reduce the electricity prices and resolve the energy crisis said that the agreements with the IPPs should be reviewed. Secondly, electricity will be cheaper by Rs 40 per unit. With the revision of contracts, power consumers will get a relief of Rs 300 billion in three years.Shut down low capacity plants and run high performance power plants. Tariffs on renewable energy projects have been reduced by a third.

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