ISLAMABAD: Energy Minister Omar Ayub has said that the agreement reached with IPPs will reduce the cost of power generation in the country and will improve the distribution system.

Addressing a press conference with Special Assistant to the Prime Minister on Energy Shehzad Qasim in Islamabad on Monday, the Federal Minister said that the agreement would also boost the industrial sector.

He said that the government was introducing reforms in the energy sector so that 70% of the country's electricity could be generated locally. The Energy Minister said that the government was working for the promotion of renewable and alternative energy sources in the country.

He said that the energy sector had deteriorated due to wrong policies of previous governments. The opposition is running because our government is performing in every field. In the wider interest of the country, the IPPs obeyed us.

Omar Ayub said the reduction in electricity tariffs was a key component of the reforms. The private sector gladly accepted our demands. The energy minister said plans were afoot to resolve the revolving debts. Former governments have not made serious efforts to address energy issues.