He stated that this was carried out with the owners of the IPPs’ mutual approval while presiding over today’s federal cabinet meeting in Islamabad.
The Prime Minister notified the Cabinet that no interest will be paid; only the remaining sums owed to these IPPs will be settled.
He emphasized that breaking these contracts will benefit the national exchequer by around 411 billion rupees and save power users roughly sixty billion rupees.
Shehbaz Sharif claimed that it was the result of the government team’s tireless efforts working together. In this regard, he acknowledged the associated parties’ contributions and support as well. In particular, he brought up General Asim Munir, Chief of Army Staff, who showed a personal interest in the entire situation.
The Prime Minister explained that the breakthrough marked the start of a path that will ultimately lead to the wealth and advancement of the populace.
Shehbaz Sharif also brought up the assistance given to power users in the summer by the Punjabi and Federal governments.
The prime minister expressed happiness that the economy is steadily approaching stability. He made note of the fact that remittances for the first quarter reached a record-breaking $8.8 billion. This indicates that Pakistan’s economy is progressing, he remarked.
The administration, according to Shehbaz Sharif, also took action to lower the inflation, which is currently only one digit. He said that this was the PML-N’s election manifesto pledge being fulfilled.
