This paper presents technical and financial models which were developed in this study to predict the overall performance of combined cycle gas turbine plant in line with the needs of independent power producers in the liberalized market of power sector. Three similar sizes of combined cycle gas turbine power projects up to 200 Megawatt of independent power producers in Pakistan were selected in-order to develop and drive the basic assumptions for the inputs of the models in view of prevailing Government of Pakistan’s two components of electricity purchasing tariff that is energy purchase price and capacity purchase price at higher voltage grid station terminal from independent power producers. The levelized electricity purchasing tariff over life of plant on gaseous fuel at 60 percent plant load factor was 6.47 cent per kilowatt hour with energy purchase price and capacity purchase prices of 3.54 and 2.93 cents per kilowatt hour respectively. The outcome of technical models of gas turbine, steam turbine and combined cycle gas turbine power were found in close agreement with the projects under consideration and provides opportunity of evaluation of technical and financial aspects of combined cycle power plant in a more simplified manner with relatively accurate results. At 105 Celsius exit temperature of heat recovery steam generator flue gases the net efficiency of combined cycle gas turbine was 48.8 percent whereas at 125 Celsius exit temperature of heat recovery steam generator flue gases it was 48.0 percent. Sensitivity analysis of selected influential components of electricity tariff was also carried out.