8 baggasse-fired IPPs: Settlement deals okayed by Cabinet

ISLAMABAD: In a major development, the federal cabinet has approved settlement agreements with eight baggasse-fired Independent Power Producers (IPPs).

The Cabinet which met with Prime Minister Shehbaz Sharif in the chair, here on Tuesday, granted its approval to the IPPs settlement on the recommendations of Ministry of Energy and Power Division.

Following these agreements, the Central Power Purchasing Agency will approach National Electric Power Regulatory Authority (Nepra) to reduce the tariff of electricity generated by these plants.

IPPs running on baggasse: CPPA-G set to propose cut in fuel charges

This initiative is expected to result in a reduction in electricity prices for the general public and save the national exchequer an estimated Rs238 billion.

Prime Minister Shehbaz Sharif underscored that the government is steadfast to reduce electricity costs for the common man and prioritising national interests in all decisions.

He reiterated that fostering private sector growth and industrial development remains a top government priority.

According to the federal cabinet’s decision, the approved power plants include JDW Unit I, JDW Unit II, RYK Mills, Chiniot Power, Hamza Sugar, Al-Moiz Industries, Thal Industries and Chanar Industries.

The meeting also discussed in detail the latest situation in Syria and update on the evacuation of Pakistanis.

The federal cabinet was given a detailed briefing on the evacuation of Pakistani citizens from Syria amid the current critical situation.

The meeting was told that out of 250 Pakistani Zaireen (pilgrims) stranded in Syria, over 79 have safely reached Beirut, from where arrangements are being made to repatriate them to Pakistan.

Furthermore, out of 20 Pakistani teachers and students in Syria, seven teachers have already arrived in Beirut.

The cabinet was informed that Pakistani embassy in Syria and Lebanon are actively ensuring the safe return of Pakistani nationals through all possible measures.

The meeting also granted approval to the appointment of Brigadier Asim Bashir Warraich as Member Production Control on the Board of Heavy Industries Taxila, as recommended by the Ministry of Defence Production.

On the recommendation of the Ministry of Human Rights, the cabinet approved the establishment of a fund for the National Commission on the Status of Women (NCSW).

The purpose of the fund is to enhance the commission’s capacity to support and advance women’s rights in Pakistan.

Copyright Business Recorder, 2024