On Wednesday, the special assistant to Prime Minister on Petroleum, Nadeem Babar, briefed the National Assembly’s standing committee on privatization that the government intends to shut down older power plants that have reached their retirement age.
Nadeem Babar said that power plants of GENCOS have proved to be the most expensive power plants. Babar also suggested that more companies should be established for generating and supplying electricity.
In an effort to bring electricity tariffs down, the government has decided not to renew the license of Independent Power Producers (IPPs). The move will reduce power tariffs up to Rs. 1 to Rs. 1.5.
The standing committee was informed that power companies in the rest of the country will supply electricity on a co-operating basis just like Khyber Pakhtunkhwa (KPK).
The government is all set to begin the privatization process for Lahore Electric Supply Company (LESCO), Petroleum Advisor briefed the committee. Regarding the transmission of electricity in the previous years, Babar told the committee that 19,000 MW electricity was transmitted in July 2018.