ISLAMABAD: The federal cabinet on Tuesday approved settlement agreements with eight independent power plants (IPPs) running on bagasse.
The meeting of the cabinet was chaired by Prime Minister Shahbaz Sharif. The approval was granted on the recommendations presented by the Energy and Power Division.
According to the state news agency, the eight power plants included DW Unit I, Unit II, RYK Mills, Chiniot Power, Hamza Sugar, Al-Moez Industries, Thal Industries and Chinar Industries.
After the approval of these agreements, the Central Power Purchasing Agency would contact NEPRA regarding a reduction in the power tariffs produced by these power plants.
Addressing the meeting, Prime Minister Sharif said that national interests should always be prioritized in every decision and action, adding promotion of the private sector and industries was a key priority for the government.
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