Prime Minister approves tariff review for eight IPPs

Prime Minister Shehbaz Sharif chaired a federal cabinet meeting on Tuesday, focusing on key issues such as energy reforms and the ongoing situation of Pakistani citizens in Syria.

During the meeting, the Prime Minister approved a tariff review for eight independent power producers (IPPs) based on recommendations from a special cabinet task force. This decision is expected to save the national exchequer around Rs200 billion, according to sources. Additionally, the cabinet has already approved the cancellation of agreements with five IPPs.

On the situation in Syria, PM Shehbaz noted the rapid changes in recent days and reiterated Pakistan’s neutral stance. He informed the meeting that 250 Pakistani pilgrims and over 300 other Pakistani citizens were awaiting evacuation. Efforts are actively being made to ensure their safe return, with coordination involving the deputy prime minister, the Ministry of Foreign Affairs, and Pakistani ambassadors in Syria and Lebanon.

The PM revealed that the evacuation could occur through Beirut using chartered flights as soon as Lebanon approves the route. He added that he spoke to the Lebanese Prime Minister on Monday regarding this and was assured that Lebanon would facilitate the return of 500 to 600 Pakistanis. This was confirmed by the ambassadors in both Syria and Lebanon.

PM Shehbaz also shared encouraging news about a 3.57% decline in weekly inflation while emphasizing that political stability and peace are vital for economic growth.

Additionally, PM Sharif addressed the law and order situation, condemning recent acts of sabotage in Islamabad. He confirmed that orders had been issued to address vandalism and warned that those conspiring against the state would face strict action, but he cautioned against targeting innocent citizens.

He highlighted the connection between political and economic stability, emphasizing its importance for national progress. The Prime Minister also pointed out the record-high remittances sent by Pakistanis but criticized the recent calls for civil disobedience, questioning, “What greater enmity can there be against Pakistan than this?”

Moreover, PM Sharif discussed the invitation extended by Azerbaijan’s ambassador for a state visit in February. The ambassador assured that $2 billion in investment projects would be identified prior to the visit.

Concluding the meeting, the Prime Minister reaffirmed his government’s commitment to ensuring political and economic stability, emphasizing their critical role in Pakistan’s future development.