KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has once again urged the government to reassess agreements with Independent Power Producers (IPPs) and conduct a forensic audit through a third party.

In a press briefing at Federation House on Monday, FPCCI Acting President Abdul Mohamin Khan questioned the rationale behind paying billions of rupees to non-operational IPPs. He expressed concern over the soaring electricity costs that are troubling the public, traders, and industrialists alike. Khan demanded transparency by making all agreements public and called for an immediate review of IPP contracts, alongside a third-party forensic audit.

President of the United Business Group, Zubair Tufail, claimed that a particular figure is attempting to protect private IPPs and that many involved have sent their children abroad to avoid arrest. During the briefing, Zubair Tufail accused that efforts are being made to protect all forty IPPs, with key figures sending their children abroad to evade potential arrests.

APTMA Chairman Asif Inam questioned the logic behind installing a capacity of 43,000 MW when the supply capability was only 23,000 MW, and why capacity charges were imposed.

The FPCCI team labeled the per-unit capacity charge of 24 rupees and the additional recovery of 3 rupees and 23 paisas per unit under circular debt interest as oppressive. They called on the government to take immediate action to address these issues.

Copyright Business Recorder, 2024