ISLAMABAD: Progress was made on the agreement with the Independent Power Producers -as three gas-based leading IPPs agreed on a draft of legally binding contracts on the basis of MOUs initially signed in August 2019.
The three companies; Sapphire, Halmore, and Orient, setup under the 2002 power policy, have moved ahead on the draft agreement for binding contracts, paving way for provision of cheaper power to the end users.
Following negotiation with the government teams, the IPPs have agreed to reduce the tariff and other concessions as agreed in MOUs, sources at the Finance Ministry said.
