Islamabad: The Federal Cabinet, led by Prime Minister Shehbaz Sharif, on Tuesday approved settlement agreements with eight sugarcane-based independent power producers (IPPs). This decision, which was taken based on the recommendations of the Ministry of Energy and the Department of Energy, is expected to lead to a significant reduction in electricity tariffs.
The approved IPPs include DW Unit I, DW Unit II, RYK Mills, Chiniot Power, Hamza Sugar, Al Moez Industries, Thal Industries and Chinar Industries. Following the agreements, the Central Power Procurement Agency (CPPA) will liaise with the National Electric Power Regulatory Authority (NEPRA) to formalize the tariff reductions.
According to the Prime Minister’s Office, these settlements are expected to reduce electricity costs for consumers and generate savings of Rs 238 billion for the national exchequer.
### Prime Minister’s statements:
Prime Minister Shehbaz Sharif reiterated the government’s commitment to reducing electricity prices for the general public, stressing the importance of prioritizing the national interest in all decisions. He also highlighted the government’s focus on promoting private sector growth and promoting industrial development.
### Additional approvals:
At the same meeting, the Federal Cabinet decided:
– **Approval of the appointment** of Brigadier General Asim Bashir Waraish as a member of production control on the Board of Directors of Taxila Heavy Industries, based on the recommendation of the Ministry of Defense Production.
– **Approval of the establishment** of the National Authority for the Status of Women Fund based on the recommendations of the Ministry of Human Rights.
These measures underscore the government’s ongoing efforts to improve governance and address critical economic and social challenges.