November 24, 2020: Minister for Planning and Development Asad Umar says the review in agreements with Independent Power Producers (IPPs) would reduce per-unit price of electricity by over 1.4 rupees.
Talking to media in Islamabad, he said the reviewed agreements with IPPs would provide a huge relief of over 300 billion rupees to the consumers in three years.
Asad Umar said the government has decided to shut down all the low performing power plants and operationalize only the efficient one.
He said we will have to reduce the cost of power production and create a competitive market.
The Minister said the tariff of renewable energy has also been reduced by one third.
He said thirty-one projects of power distribution were completed in two and a half years.
Asad Umar said in order to meet the power shortage, the federal government would give 1400 MW additional electricity to K-Electric in two and a half years.