PESHAWAR: A writ petition was filed by Sarhad Chamber of Commerce and Industry in Peshawar High Court against Independent Power Producers agreements.
In the writ petition, the SCCI prayed for conducting a forensic audit by reviewing all IPPs’ contracts.
The petition furthermore pleaded to take immediate steps to tackle the issue of IPP payouts in accordance with correct parameters and bring about substantial relief for all categories of power consumers.
The writ opposed renewal and signing new agreements with IPPs.
It also called for implementation of recommendations of the special meeting of the Senate Standing Committee on Power regarding excess profits paid to RFO-based IPPs.
This was told at a news press conference by President Sarhad Chamber of Commerce and Industry Fuad Ishaq along with Vice President Ejaz Khan Afridi, Anjuman-e-Tajran Lifetime President Haji Muhammad Afzal, former SCCI presidents Riaz Arsahd, Malik Niaz Ahmad and traders leaders, held here at the chamber house on Wednesday.
Fuad during the presser said IPPs’ agreements are unbeneficial for the country’s economy and FPCCI and chambers raised proactively voice against them.
SCCI demands cancellation of IPPs contracts
The SCCI president called IPPs a major obstacle in economic growth, which has brought stagnation in industries, business and commercial activities.
He furthered said IPPs is a biggest issue for Pakistan and the coming generation and its elimination become essential.
He added IPPs had been installed which are excessive of the country’s requirement. Presenting figures before the reporters, Fuad Ishaq informed that the total installed capacity of electricity in Pakistan is 45,000 megawatt.
He explained Pakistan’s hydel power generation remained 11,000 megawatt in the last year while nuclear 3,500 MW and green energy and solar energy 3,000 MW.
The SCCI chief accused that IPPs’ agreements were made with blue-eyed people. He mentioned that agreements would be made for more than 12 new IPPs.
Following the protest of FPCCI and chambers, he said renewal of six IPPs has been stopped. Every year, the cost of payment on head of capacity charges is increasing and this year the government will pay Rs 2800 billion to IPPs on head of capacity charges, Fuad said.
Furthermore, he said IPPs in their own balance sheets showed profits from 36 to 45 percent against 15 to 17 percent profit that had been indicated in the agreement.
He called for conduct of forensic audits and abolishing of IPPs’ contracts.
Presser also attended by SCCI former SVP Ziaul Haq Sarhadi, former VP Abdul Jalil Jan, Khalid Sultan Khawaja, executive members Haji Ghulam Hussain, Fazal Muqeem, Ismail Safi, former provincial chairman APCEA Mushtaq Ahmad, Fahad Amin, Ihsanullah, Rashid Iqbal Siddique, Saddar Gul, Faiz Rasool, Fazal e Wahid, Ishtiaq Paracha, Secretary General Muqtasid Ahsan, and Secretary Sohail Anjum and others.
Copyright Business Recorder, 2024
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