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 but also reduce electricity prices.
The cabinet also approved merger of the Anti-Narcotics Division into the Ministry of Interior and the Aviation Division into the Ministry of Defense.