Amid the rising electricity rates in Pakistan, Asia Pak Investment’s officials have proposed ending the dollar-based return on investment for Independent Power Producers (IPP) to switch to Pakistani rupees. This development targets reducing the power tariff and provide relief to consumers. Chairman of Asia Pak Investment, Shehryar Chishti, stated that IPPs are aware of Pakistan’s deteriorating electricity situation. He stressed the need to find ways to provide affordable electricity to Pakistani consumers. Chishti mentioned that Liberty had shared its profits in 2021, and the sector has been facing issues since then. The chairman also offered suggestions to the federal government to reduce electricity prices. He said that reducing electricity prices is crucial to providing relief to consumers and suggested an emergency meeting of all IPPs to devise a plan to lower electricity prices.

Credit: Independent News Pakistan