The Federal Cabinet has approved increasing the price of electricity by Rs 1.72 per unit, Sources.
Islamabad: Sources in the Cabinet Division said that the Federal Cabinet approved the summary through circulation. Approved increasing the price of electricity in 3 different quarterly adjustments.
Prime Minister Imran Khan has said that the previous governments took kickbacks from IPPs by signing agreements. Electricity is being sold at a lower price than the price at which it is being generated. We can generate 50,000 MW of electricity from water in Pakistan in the next 10 years. I am building ten 10 dams in Pakistan.
Addressing a function in Peshawar, Prime Minister Imran Khan said that despite the Corona epidemic, work on Mohmand Dam is in full swing. Mohmand Dam will be completed by 2025, which will also benefit the people of Peshawar. Because Mohmand Dam will provide cheap electricity to the people of Peshawar.
The Prime Minister said that efforts are being made to provide cheap electricity to the people, therefore they are reviewing the agreements with IPPs and have saved a lot by signing new agreements with IPPs.
He said past governments have taken money from IPPs by signing agreements. Electricity is being sold at a lower price than the price at which it is being generated.
According to the sources, in the fourth quarter of the financial year 2020, electricity is approved at 82 paise per unit, while in the first and second quarter adjustments, electricity was approved at 90 paise per unit.
Sources in the Cabinet Division said that the increase in electricity prices will be implemented from October 2021.