Islamabad: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has demanded a review of the agreements made with IPPs (Independent Power Producers).
In a statement, he said that the government should present these agreements with IPPs to the public, as high electricity bills are due to these agreements.
Atif Ikram Sheikh stated that payments of 150 billion rupees are being made monthly to IPPs that produce less electricity.
On one hand, circular debt is increasing, while on the other hand, the burden is being passed on to the public.IPPs’ power plants are operating at less than 10% capacity, yet the government is making full payments.
The FPCCI President further mentioned that the living conditions of the general public and business conditions are deteriorating in Pakistan.
If electricity prices are not reduced, the country’s industries will shut down. Previously, the price of electricity per unit in Pakistan was higher compared to other countries in the region.