Author: none@none.com (Reuters | Dawn.com | APP)

Pakistan’s largest private utility company, Hub Power Company Ltd, recently terminated a power purchase agreement with the government in a bid to reduce electricity tariffs for consumers. This decision aligns with the government’s efforts to renegotiate deals with independent power producers in order to lower energy costs for households and businesses. Furthermore, the government reached an agreement with five IPPs to revisit purchase contracts, saving the country Rs60bn ($216.10 million) annually. Prime Minister Shehbaz Sharif emphasized the importance of prioritizing national interests in these negotiations. In addition to terminating power purchase agreements, the government is focusing on implementing reforms in…