Power prices will be reduced soon, said the Minister of Energy.

ISLAMABAD: A meeting of the Senate Standing Committee on Energy was held in Islamabad under the chairmanship of Chairman Mohsin Aziz to review the country’s high electricity tariffs and negotiations with independent power-generating companies (IPPs). The meeting was attended by Energy Minister Sardar Awais Leghari and senior officials of the Power Division.

Power Division officials briefed that negotiations with IPPs were initiated in July 2024, under which contracts with 6 IPPs have been terminated so far. Concession contracts for 8 bigas power plants have also been signed. A number of cases have been referred to regulators to provide relief to consumers. Talks are also on for solar and wind power projects, and discussions with 29 IPPs have been completed so far.

Federal Minister for Energy Sardar Awais Leghari said during the meeting that the main purpose of the talks with the IPPs is to provide relief to the people, and its effects will be seen soon. However, committee chairman Mohsin Aziz questioned why no clear relief had been provided to the public so far over the alleged over-invoicing by the IPPs. He said that the committee is concerned that the people are burdened with expensive electricity tariffs. The outcome of the talks appears to have been delayed.

At the meeting, the members of the committee called for concrete steps to reduce the electricity tariff and hoped that the agreement with the IPPs and the ongoing negotiations would benefit the consumers soon.