- AFP
- 2 Hours ago
Cabinet approves tariff review for IPPs
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- Web Desk
- Dec 10, 2024
ISLAMABAD: The federal cabinet on Tuesday approved tariff revisions for eight Independent Power Producers (IPPs) based on recommendations from the Special Task Force on IPPs.
The IPPs whose tariff revisions have been approved include JDW, Chiniot Power, Hamza Sugar, Al-Moiz Power Plant, Thal Industries, and Chenar Energy.
Prime Minister Shehbaz Sharif while chairing the cabinet meeting highlighted that the decision follows the cancellation of agreements with five other IPPs, which were terminated with the consent of their owners.
He noted that the government would only clear outstanding dues to these IPPs without any additional interest.
This termination is projected to save power consumers Rs60 billion while benefiting the national exchequer by Rs411 billion.
PM Shehbaz attributed the success of these negotiations to the collective efforts of the government team and support from allied parties. He also acknowledged the role of Chief of Army Staff General Asim Munir, who played a key part in the process.
The prime minister also mentioned the relief provided to power consumers by both the federal and Punjab governments during the summer months.
EVACUATION EFFORTS FOR PAKISTANIS IN SYRIA
The cabinet also discussed the evolving situation in Syria, where over 250 Pakistani pilgrims and more than 300 other citizens are awaiting evacuation. PM Shehbaz emphasized that Pakistan has maintained a neutral stance on the matter.
Efforts are underway to evacuate the stranded Pakistanis via chartered flights from Beirut, pending approval from Lebanese authorities. The prime minister shared that he had spoken with the Lebanese prime minister, who assured full cooperation and directed his administration to facilitate the evacuation. Pakistani ambassadors in Syria and Lebanon are actively coordinating these plans.
ECONOMIC AND POLITICAL STABILITY
During the meeting, PM Shehbaz highlighted a 3.57 per cent decline in weekly inflation and reiterated the importance of peace and political stability for economic progress. He condemned recent acts of vandalism in Islamabad and stressed that conspirators against the state would face strict action. However, he cautioned against targeting innocent individuals.
“The nation’s economic stability is directly linked to political stability,” he said.
The prime minister expressed concern over renewed calls for civil disobedience, terming them acts of hostility against the country.
PM VISIT TO AZERBAIJAN
PM Shehbaz also discussed a state visit to Azerbaijan scheduled for February. During the visit, investment projects worth $2 billion are expected to be finalized, following discussions initiated by Azerbaijan’s ambassador.
Concluding the meeting, the prime minister reaffirmed the government’s commitment to ensuring political and economic stability, calling them essential for Pakistan’s progress and development.
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