LAHORE: Federal Minister for Education and Professional Training Shafqat Mahmood on Monday inaugurated 220 KV Grid Station on Ghazi Road in Lahore here on Monday.
Addressing the inaugural ceremony, the federal minister said the incumbent government was making concerted efforts to resolve energy crisis from the country.
He further said the Pakistan Tehreek-e-Insaf (PTI) government had signed a new agreement with Independent Power Producers (IPPS) to bring down the cost of electricity generation.
“The energy crisis first emerged in the 1990s and previous regimes had brushed aside national interest while making agreements with power distributors in past,” added Shafqat Mehmood.
The minister said more dams are being constructed in the country to increase the production of low-cost electricity.
Last week, the federal government announced that it had reached an agreement with the independent power producers (IPPs).
Announcing the decision in a presser while flanked by Information Minister Shibli Faraz, Special Assistant to PM on Power Division Shahzad Qasim said that they have secured a deal with the IPPs, linking the profit of local investment with the rupee.
“We have successfully held talks with the IPPs and signed a renewed deal with them,” he said adding that under the agreement the equity would be paid in rupees instead of dollars.
