Pakistan, March 26 -- Seven independent power producers (IPPs) have offered to cut electricity tariffs by up to Re0.50 per unit and waive over Rs11 billion in late payment surcharges - on the condition that the government withdraw all ongoing legal proceedings and investigations into alleged excessive profits.

In a joint tariff revision request submitted to the National Electric Power Regulatory Authority (Nepra), the IPPs contended that fuel and operation and maintenance (O&M) cost recoveries had already been settled.

They called on the regulator to discontinue its suo motu actions and related inquiries.

An IPP's representative stated that their petition for tariff revision was conditional upon the withdrawal of all legal cases agains...