Prime Minister Shehbaz Sharif has announced the federal government's decision to terminate contracts with five Independent Power Producers (IPPs) in the first phase, following mutual agreement with the IPPs' owners.

During a federal cabinet meeting in Islamabad, the Prime Minister stated that the government will only pay the outstanding dues to these IPPs, without any additional interest. This move is expected to save power consumers approximately 60 billion rupees and contribute around 411 billion rupees to the national exchequer.

Shehbaz Sharif attributed this achievement to the collective efforts of the entire government, acknowledging the support of allied parties and specifically mentioning the personal involvement of Chief of Army Staff General Asim Munir in resolving the matter.

The Prime Minister described this development as the beginning of a journey toward progress and prosperity for the people. He also highlighted the relief provided by the Federal and Punjab governments to power consumers during the summer months.

Expressing satisfaction with the country's economic progress, Shehbaz Sharif noted that remittances for the first quarter of the fiscal year had reached a record 8.8 billion dollars, reflecting growing confidence in Pakistan’s economy. He further emphasized that inflation has been brought down to a single digit, fulfilling a key promise made by the Pakistan Muslim League-Nawaz (PML-N) in its election manifesto.