The federal cabinet has approved the proposal to cancel the contracts of 5 IPs in the first phase.
After this decision, the country’s exchequer will save a total of 411 billion rupees, while electricity consumers will get an annual benefit of 60 billion rupees and the price per unit will decrease.
Prime Minister Shehbaz Sharif while addressing the Federal Cabinet meeting in Islamabad said that in the first phase, the contracts of 5 IPPs will be canceled, the contracts with other IPPs will be revised gradually and the tariff will be reduced.
The Prime Minister said that foreign exchange reserves have reached 8.8 billion dollars in the current quarter, which is a record and overseas Pakistanis have confidence in the government.
He said that the difficulties that were faced in the last 7 months have reduced, in these 7 months the common Pakistani faced difficulties due to inflation and high interest rates, the people made sacrifices and now the situation is gradually improving. is
He said that in the summer, the federal government had given a relief of 50 billion rupees to domestic consumers who use up to 200 units of electricity per month, which provided them with a lot of convenience. Had given relief which benefited the people a lot, thanks to the people who patiently endured the hardships.
He said that in the past there was a hard-hearted ruler who said that he was not concerned with the price of tomatoes and onions, but we have the feeling of the people and are fully aware of their difficulties.
They will do whatever they can to provide relief to the people, inflation has reached single digits, the government has given temporary relief for electricity and now it has decided to cancel contracts with IPPs as directed by Nawaz Sharif.
The Prime Minister said that there are problems of theft and line losses in the electricity sector, Pakistani people have doubts about the IPPs agreement, these IPPs have got more profit than their investment.
Now the common man’s question is what are the people getting, the government has been trying day and night for 7 months.
A task force was formed under the leadership of Federal Minister for Energy Owais Leghari, President Zardari and Bilawal Bhutto gave useful suggestions, the efforts of the Army Chief are also at the top, which is why this decision was made possible today.
He said that this is only the beginning which will be a guarantee of development and prosperity in the future. With the collective efforts of all, Pakistan has been on the path of development. We are trying to solve the problems of Pakistan.
The national exchequer and the public will benefit billions of rupees when the contracts with IPPs are terminated. China and Saudi Arabia played a role in the negotiations.
