ISLAMABAD: The government informed a parliamentary panel on Wednesday that about Rs3.5 trillion in savings had been secured through revisions to power purchase agreements with 29 private and some state-owned power plants, spanning their three to 20-year terms.

Additionally, the circular debt is expected to decrease to Rs400-450 billion by the end of the year, down from around Rs2.4tr currently.

At a meeting of the Senate Standing Committee on Power, presided over by Senator Mohsin Aziz, the power division also confirmed that the federal cabinet had returned revision in solar net-metering policy cleared by its Economic Coordination Committee (ECC) for further deliberations and revisions.

The government will not have to pay about Rs3.498tr to these 29 independent power producers (IPPs) and government power plants (GPPs) after these revisions that were otherwise due to them over their life spans ranging between three years and........

© Dawn Business