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Cabinet approves settlement agreements with 8 IPPs
December 10, 2024

The Federal Cabinet, on the recommendation of the Ministry of Energy and Power Division, has accorded approval to settlement agreements with eight Independent Power Plants, which run on Bagasse.

The approval to this effect was given in the Federal Cabinet meeting held in Islamabad with Prime Minister Shehbaz Sharif in the chair.

Following the approval of these agreements, the Central Power Purchasing Agency will approach NEPRA regarding the reduction in the tariff of electricity, generated from these power plants.

After the agreements, the price of electricity for common consumers will be reduced, resulting in the benefit of two hundred thirty eight billion rupees to the national exchaqure.

These power plants include JDW Unit-I and Unit-II, RYK Mills, Chiniot Power, Hamza Sugar, Al-Mueez Industries, Thal Industries and Chinar Industries.

The Federal Cabinet also approved the appointment of Brigadier Asim Bashir Warraich as Member Production Control in the Board of Heavy Industry Taxila on the recommendation of the Ministry of Defence Production.

It also approved the establishment of the National Commission for the Status of Women Fund on the recommendation of the Ministry of Human Rights.

Speaking on the occasion, Prime Minister Shehbaz Sharif said the government is taking all possible steps to reduce electricity prices for the common man. He said the national interest should come first in our every decision and initiative.

The Prime Minister said the development of private sector and the industries in the country is the foremost priority of the government.

The Federal Cabinet was briefed regarding the evacuation of Pakistanis from Syria in the context of the latest situation in Syria.

The Cabinet was informed that out of 250 Pakistani pilgrims in Syria, seventy-nine have reached Beirut from where they will be brought back to Pakistan. In addition, seven out of twenty teachers and students in Syria have also reached Beirut.

The meeting was further informed that authorities in Pakistani Embassies in Syria and Lebanon are taking all possible steps to ensure the safe return of Pakistanis from Syria.