Minister for Planning, Development and Special Initiatives Asad Umar Monday said that review in agreements with Independent Power Producers (IPPs) would help reducing the per unit price of electricity by over Rs 1.4.
In 2022, the price would go down by Rs 0.74 while in 2023, it would be cut by Rs 0.66 per unit, the Minister said while talking to media here.
With the agreements with IPPs, the consumers would get a huge relief of over Rs300 billion in three years, Said Asad.
He said the government decided to shut down all the low performing power plants and operationalize only efficient power plants.
“We will have to reduce the cost of power production and create competitive market.”