PM Imran Khan Appreciates The Changes In IPP Contracts To Reduce Circular Debt

PM Imran Khan Appreciates The Changes In IPP Contracts To Reduce Circular Debt

ISLAMABAD, Aug 18 (PID): Prime Minister Imran Khan chaired a meeting on Monday on the newly developed power sector reforms to boost economic growth and lessen the existing burden on the consumers. This meeting was attended by Minister for Power Mr. Omar Ayub, Planning Minister Mr. Asad Umar, SAPM Mr. Shahzad Qasim, SAPM Nadeem Babar and senior officials.

The proposed roadmap of reforming and restructuring of the sector and other related issues including the issue of circular debt and negotiations with IPPs were discussed in the meeting.

Imran Khan acknowledged the progress in mutually agreed changes to the IPP contracts stating that rationalization of the cost will help in reducing circular debt. Khan is of the view that the power sector was affecting the economic growth of the country and the immediate overhaul and reform process was essential to lessen the existing burden on the consumers.

The Prime Minister directed the early implementation of the restructuring roadmap already approved.

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The Prime Minister also advised Minister for power to apprise the public about the major milestone achieved in negotiations with IPPs and its potential benefits for the consumers including domestic and commercial consumers