The federal cabinet approved on Tuesday revised agreements with 14 the independent power producers (IPPs) to ensure significant economic relief.
The adjustments included a deduction of Rs35billion from prior excessive profits, yielding a total benefit of Rs140billion to the country.
PM Shehbaz stated, “The revised agreements with the IPPs will play a pivotal role in eliminating circular debt, ensuring financial stability within the energy sector.”
In addition to the IPP agreements, the cabinet endorsed the merger of the Anti-Narcotics Division into the Ministry of Interior and the Aviation Division into the Ministry of Defence.
The cabinet further approved the submission of the National Commission for Minorities Act 2024.
Meanwhile, the amendments to the Public Procurement Rules 2004 were also sanctioned, including the insertion of a new Section 45-A to streamline regulatory procedures.
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