Nine bagasse power plants have submitted applications to the Nepra for cuts in power tariffs.
The power plants have also pleaded to the regulator for review of the fuel costs and also requested for permission to sell the electricity generated by these plants to big consumers.
Bagasse plants have also requested the regulatory authority for review of the operation and maintenance indexation mechanism and 50 percent reduction in the working capital.
Prime Minister Shehbaz Sharif announced a reduction in electricity prices as a relief to the public.
Addressing an event organised for the announcement, PM Shehbaz revealed that the government has decided to decrease the electricity tariff by Rs 7.41 per unit for domestic consumers.
He also announced a reduction of 7.59 rupees per unit for industries.
PM Shehbaz expressed confidence that the reduction in electricity prices will trigger economic activities in the country.
“The benefit of the global decrease in oil prices will be passed on to the people in the form of reduced electricity prices,” said the prime minister.
He said that successful negotiations with Independent Power Producers (IPPs) will result in a massive saving of Rs3,696 billion.
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