Punjab to fund its new tariff cut with power plants’ profit

LAHORE: A day after its decision to reduce power tariffs to provide relief in electricity bills, the Punjab government on Wednesday said the relief will be financed with billions in profits hitherto harvested by two government-owned power companies, the Quaid-e-Azam Thermal Power Private Limited and Punjab Thermal Power Private Limited.

The provincial cabinet had decided to cut the power tariffs of these two plants by 30-40 per cent to reduce electricity bills. This move is similar to the federal government’s...