New agreements with IPPs will stop further hike in electricity tariff

On Sunday, Pakistan’s Foreign Minister Shah Mehmood Qureshi said to stop further hike in electricity tariff in the country, the new agreements with the independent power producers (IPPs) will be helpful.

While addressing an event in Multan today, Shah Mehmood Qureshi said that for the improvement in Multan Electric Power Company (MEPCO) steps have been taken, its chief also held a meeting with him and discussed plans for facilitating citizens.

After the construction of a new grid station, 40,000 new electricity connections would be made available for domestic consumers. For commercial and industrial consumers, the new grid stations will also provide 5,000 connections. On the other hand, Rs51 million will be spent on the new project for ensuring lives’ safety by covering the electricity wires over the residential areas.

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Qureshi further said that different plans for providing gas connections are also in the pipeline. He highlighted that the electricity tariff was increased due to agreements signed by the former government.

FM said that PM Imran Khan had asked IPPs to reduce the electricity rates, moreover, many several meetings for revising the agreements with the independent power producers had been held.

He added that the previous government had installed cheaper power plants, whereas, the federal government is a step forward to sign new agreements for generating low-cost electricity.

It should be mentioned here that the present government has inaugurated different dams construction projects as well as initiated the development work for benefitting the future generation.

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FM Qureshi concluded by saying that different industries will be resumed after promoting the construction sector.