Maps
Magazine

TRADE & ECONOMY

IPP Announces Electricity Price Reduction Amid Rising Costs Across Pakistan
An Independent Power Producer (IPP) has announced a voluntary reduction in its return on equity from 18% to 10%.
ND
by News Desk
2024-09-11
IPP Announces Electricity Price Reduction Amid Rising Costs Across Pakistan

An Independent Power Producer (IPP) has taken a significant step to reduce electricity costs for consumers. During a press conference in Karachi, CEO Imran Khan announced that the IPP will lower its return on equity from 18% to 10%. This voluntary reduction is aimed at making electricity more affordable for the public amidst the country’s worsening energy crisis.

 

Shehryar Chishti, the IPP owner, stated that the decision was made in light of the broad national interest and the financial capacity of consumers. "The electricity situation in the country has deteriorated, and prices must be reduced to provide relief to the people," Chishti said.

 

Despite the IPP's initiative, the cost of electricity nationwide continues to rise. The National Electric Power Regulatory Authority (NEPRA) has increased electricity prices by Rs. 1.74 per unit under a quarterly adjustment covering April to June 2024. This increase will be recovered over three months, from September to November 2024, placing an additional burden of Rs. 43.23 billion on consumers across the country, including Karachi.

 

This dual reality reflects the complex energy challenges facing Pakistan, where some power producers are stepping up to help consumers, while national regulatory adjustments continue to raise costs.
Tagged:

Pakistan

NEPRA

IPP

EnergyCrisis

ElectricityPrice
Share News: