ISLAMABAD: The federal government has announced plans to retire costly power plants in a bid to reduce electricity prices nationwide. This decision was conveyed by senior officials from the Power Division during a meeting with a delegation from Muttahida Qaumi Movement (Pakistan) on Monday. The discussions focused on electricity issues in Karachi and Hyderabad, and the capacity payments to Independent…
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ISLAMABAD: The Chamber of Commerce and Industry has filed a constitutional petition in the Supreme Court against independent power producers (IPPs), seeking to nullify the 1994, 2002, and 2015 policies that allowed state largesse disposal without competitive bidding. Filed by Advocate Faisal Naqvi, the petition urges the Supreme Court to declare that the government and its agencies cannot profit from…
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ISLAMABAD: Amid mounting criticism of independent power producers (IPPs), Prime Minister Shehbaz Sharif has established a task force to engage international firms in reviewing IPP agreements and proposing measures to reduce capacity payments. Currently, electricity consumers are burdened with over Rs2.2 trillion in capacity charges, including payments to non-operational IPPs. Consumers pay Rs9 per unit to active plants but a…
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ISLAMABAD: In response to growing concerns over unaffordable energy tariffs, the government is planning to reduce the return on equity (ROE) for its power plants and offer improved prices to attract more investments in hydrocarbon exploration and development. Sources informed Dawn that the government has decided to scale down the ROE for public sector power projects, including hydropower. With many…
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