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Negotiations with IPPs are fair and transparent, says Awais Leghari

ISLAMABAD: Federal Minister for Power Sardar Awais Leghari attended a detailed session with Power Sector International Development Partners on power sector reforms and their future direction. The development partners were led by World Bank Country Director Mr. Najy Benhassine, included representatives from the IMF, ADB, IFC, KFW, German Embassy, FCOD, UNDP, and AIIB. The federal Minister Awais Leghari briefed participants on the reforms implemented by the power division to improve efficiency and discipline. The minister highlighted efforts to make electricity prices more competitive and affordable, particularly for industries. He assured that all negotiations with Independent Power Producers (IPPs) are conducted

Federal Cabinet approves revised agreements with 14 IPPs

The Federal Cabinet has approved revised agreements with fourteen Independent Power Producers. The Cabinet, which met in Islamabad with Prime Minister Shehbaz Sharif in the chair, approved a proposal to reduce the profit and cost of these IPPs by 802 billion rupees A deduction of 35 billion rupees will be made from the additional profits of these IPPs over the past years. Under the revised agreements with IPPs, the government will benefit by 1.4 trillion rupees. Speaking on the occasion, the Prime Minister said the revised agreements with IPPs will not only save the national exchequer, and eliminate circular debt

Govt saved Rs 1.1 trillion through talks with IPPs: Awais Leghari

ISLAMABAD: Minister for Power Division Sardar Awais Ahmed Khan Leghari said that the government has saved Rs 1.1 trillion through negotiations with Independent Power Producers (IPPs). Addressing at the concluding ceremony of 4th International Hydropower Conference jointly organized by Energy Updates with collaboration of Private Power Infrastructure Board (PPIB), WAPDA and other stakeholders, the minister said that the government and IPPs mutually renewed the contracts in the interest of Pakistan. He said that people could not longer afford to pay the electricity bills and the government was going to revamp the entire power sector. “We are also restructuring National Transmission

Govt mulling options to reduce electricity prices: PM Shehbaz

Prime Minister Shehbaz Sharif says the UAE has decided to extend the two billion dollar payment due on Pakistan this month. Chairing the federal cabinet meeting in Islamabad, he mentioned that UAE President Mohamed bin Zayed Al Nahyan conveyed this decision to him with pleasure during a one-on-one meeting in Rahim Yar Khan. The Prime Minister stated that his meeting with the UAE President focused on strengthening bilateral relations and promoting investment. He mentioned that the UAE President, while referring to the historic fraternal ties between the two countries, expressed commitment to investing in Pakistan, assuring that his country would

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