Pakistan
is currently generating very expensive electricity. It has become imperative to
make all sources of energy cheaper for business and industrial development,
including domestic consumers, which the current government is paying full
attention to. Work is underway rapidly on a plan to bring down electricity
prices and production projects, which is expected to make electricity cheaper
by Rs 12 by March 2025, but currently OGRA has increased their problems by
increasing gas prices from 8.71 to 25.78 percent. It is good news that matters
with IPPs are progressing smoothly. After the cancellation of contracts with
six IPPs, there is a possibility of saving Rs 300 billion. Fifteen IPPs have
already signed revised contracts with which task force negotiations are
underway. According to sources, discussions with nuclear and hydro power
plants, coal-fired power plants, provincial government power plants and GENCOs,
re-profiling of CPEC and government power plants’ debts and reduction of
tariffs on bills will be completed by next February.
With these
steps, the off-peak tariff will be reduced from Rs 41.68 per unit to Rs 29.68
per unit and the peak hour tariff will be reduced to Rs 36 per unit. There is
no doubt that the expensive electricity purchased from IPPs has badly affected
our economy. Pakistan is a fortunate country in this regard where there is a
vast potential for wind, water and solar energy. Biogas energy can also be
produced in villages. These are sources that will provide environment-friendly
and cheap electricity. It is necessary to prioritize low-cost power projects
and local resources.
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