FPCCI hosts conference to address IPP issues, high electricity costs

Lahore: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) “Businessmen Conference” on Independent Power Producers (IPPs) was held at FPCCI Regional Office Lahore on Friday.

 Addressing the FPCCI “Businessmen Conference,” Former caretaker Prime Minister Anwaar-ul-Haq Kakar said that the issue of IPPs is 24 million people, including industry. The problem of IPPs is under discussion in the Senate; the rights of the people have been fighting for the small battles of the people before. Astronomy sitting on social media is spreading frustration about the country; the future of the country is bright. IPPs are not scoring points by raising the issue. We will resolve the problem through dialogue.

Former Caretaker Federal Minister for Commerce, Industries, Investment & Interior and FPCCI Economic Policy Business Development Think Tank Chairman Dr Gohar Ejaz said that the negligence of the government agencies of IPPs was being put on the public. A forensic audit of IPPs should be conducted. The whole of Pakistan is saying with a voice that has been affected by the IPPs that we have to find a solution to terminate the deal with IPPs in every case.  We never want our country to go into crisis. There will be a policy that Pakistan will move forward. There is electricity, but the problem is the cost of electricity. How will we fight the world for expensive electricity?

Atif Ikram Sheikh, President FPCCI and Patron-in-Chief United Business Group (UBG) and Former Caretaker Provincial Minister for Industries, Commerce and Energy and Patron in Chief United Business Group (UBG) SM Tanveer announced that, on behalf of the entire business, industry, and trade community of Pakistan, FPCCI would plead the case of unbearable capacity charges of IPPs to the apex forums of the Supreme Court of Pakistan and Special Investment Facilitation Council (SIFC)-as the last resort to save the economy and the people of Pakistan.

They stressed that the problem would also be explained and a solution given. The business community has said industries are shutting down due to expensive electricity and excessive markups.

They further said that it is impossible to do business at this electricity rate. Anwaar-ul-Haq Kakarhas has been elected president of the FPCCI Economic Policy Business Development Think Tank. Electricity is so expensive. The electricity bill is unbearable. Due to incorrect contracts, capsat charges have to be paid; electricity prices are the biggest problem in Pakistan right now. Annual Rs 2,000 billion is being removed from the pockets of 24 crore people regarding capacity charges, and 25 % of the industry has been closed. Such IPPs cannot run the country.