New agreement with IPPs will bring down power generation cost, says PM

(Karachi) Prime Minister Imran Khan has said that the government inked a new agreement with Independent Power Producers (IPPs) which will help in bringing down cost of power generation and reduce circular debt.

I congratulate our nation on its 73 yrs of Independence. Our journey towards Quaid's Pakistan has begun: for Rule of Law with all citizens equal before the law; & towards an Islamic Welfare State, premised on compassion.

— Imran Khan (@ImranKhanPTI) August 14, 2020

In twitter messages on Independence Day on Friday, the prime minister said: "I congratulate nation bec we are fixing the damaging structure we inherited in our Power sector."

My message to our brave Kashmiri brethren is that our nation stands united with them in their just struggle for self determination. We will provide them with all the support at all levels as they valiantly fight India's illegal occupation.

— Imran Khan (@ImranKhanPTI) August 14, 2020

He added that the government's next move will be to bring reform in power distribution sector.

I congratulate nation bec we are fixing the damaging structure we inherited in our Power sector. After long negotiations we have signed new agreement with IPPs which will bring down cost of power generation & reduce circular debt. Next reform target is power distribution system.

— Imran Khan (@ImranKhanPTI) August 14, 2020

The PM maintained, "I congratulate our nation on its 73 yrs of Independence. Our journey towards Quaid's Pakistan has begun: for Rule of Law with all citizens equal before the law; & towards an Islamic Welfare State, premised on compassion."

This was my main message to our youth in our Dharna and it remains an invaluable lesson for our youth today. pic.twitter.com/jIQy5Lrare

— Imran Khan (@ImranKhanPTI) August 14, 2020

He mentioned the nation stands united with the people of Kashmir in their struggle for freedom. "My message to our brave Kashmiri brethren is that our nation stands united with them in their just struggle for self determination. We will provide them with all the support at all levels as they valiantly fight India's illegal occupation," Imran stated.

The prime minister also shared poetry of late poet Allama Iqbal saying, "This was my main message to our youth in our Dharna and it remains an invaluable lesson for our youth today."

Later, in a televised address to the nation on Independence Day, the PM said that the past two years were difficult, but things are now "improving".

"We had a very difficult two years. We didn't have foreign exchange and couldn't pay our debts," he stated.

He said the confidence of the business community on the economy can be gauged from the recent upsurge in Pakistan Stock Market. The prime minister said, "We have given unprecedented incentive package to the construction industry which will help uplift forty other allied industries."

Imran Khan said the tax collection during the last month remained more than the target and hopefully the collection will further improve in the coming months.

He said the country has successfully coped with the threat of Covid-19. "Hardly any other nation was able to successfully balance between economy and the virus," he said.

He pointed out that the number of confirmed coronavirus cases had reduced and economy had started an upward journey as well.