The federal cabinet has approved the decision to terminate contracts with five independent power producers.

The approval was granted during a meeting of the cabinet in Islamabad on Thursday in order to bring down the prices of electricity.

PM Shehbaz Sharif said that the contracts were being terminated with mutual agreement of the government and the companies.

The five IPPs whose contracts will be terminated prodcue a total of 2,400 megawatts for the national grid.

The IPPs include

• Hubco (1,200 MW)
• AES Lal (362 MW)
• Atlas Power (224 MW)
• Saba Power (136 MW)
• Roshan power plant (450 MW)