Expresses concern over closure of various industrial units due to exorbitant electricity bills
LAHORE – United Business Group Patron-in-Chief S.M Tanveer has called on the federal government to cancel all the agreements with Independent Power Producers immediately and start sourcing electricity from cheaper alternatives without incurring capacity charges.
Tanveer highlighted that the pending Rs2 trillion in capacity payments to IPPs have paralysed the country's economic activities. He urged the government to take decisive action before the prevailing desperation leads to total economic collapse. “Past investigations revealed IPPs have been enjoying a return on investment exceeding 73 percent in dollar terms, an unusually high rate compared to international standards. Pakistan’s energy sector has been involved in problematic contractual arrangements with IPPs since the Power Policy 1994. Initially designed to alleviate the energy crisis by attracting private investment, these contracts have led to an escalating circular debt, which reached Rs2.64 trillion in February 2024.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
PPP accuses PML-N of breach of deal struck to form coalition govtPPP PML-N Coalition Breach, analyzing the political dynamics and agreements affecting government formation.
مزید پڑھ »
Ex-minister Gohar Ejaz calls for economic reforms and reduction in govt spendingEx-Minister Gohar Ejaz urges for economic reforms and reduction in government spending to stabilize Pakistan's economy.
مزید پڑھ »
Married women rejected: Modi govt calls on Tamil Nadu to look into Foxconn hiringTaiwanese company is a contract manufacturer and Apple supplier
مزید پڑھ »
Dialogue with establishment only way to end political stalemate, says Sheikh RashidAML chief lambasts the govt for being unable to give relief to people
مزید پڑھ »
Outage-stricken people take to the street in parts of countryRiled up by unabated loadshedding, protesters assail govt
مزید پڑھ »
Govt accepts all demands to woo PPP amid crucial budget sessionPower-sharing deal: Govt accepts all demands in bid to woo PPP
مزید پڑھ »