In a major development, the Independent Power Producers (IPPs) have agreed to work in collaboration with the government to control the electricity tariff.
A meeting between the representatives of Power Division and IPPs decided to constitute a joint technical committee that will work out ways to reduce power tariffs.
Moreover, the private sector also agreed to review the capacity payment system during the dialogues held under Power Policy 1994 and 2002.
If the committee materializes on its promises, this will be a huge boost for business as well as for general consumers. The committee will be activated immediately and will submit its initial report in the next few days.
Energy Minister, Omar Ayub, was leading the delegation of the federal government. He had been highlighting during the cabinet meetings that power tariffs continuously increased in the past without any check and balance. Omar Ayub was the one who floated the idea to bring IPPs on the table for a joint effort to reduce electricity tariffs.