Aatif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has urged for a review of agreements with Independent Power Producers (IPPs). Sheikh criticized the current agreements with IPPs, emphasizing that the high electricity bills are a direct result of these deals. He pointed out that the government should present these agreements to the public for scrutiny. He revealed that payments amounting to 150 billion rupees per month are being made to IPPs that produce minimal electricity. Sheikh highlighted the disparity between rising circular debt and the financial burden on the public. The FPCCI President also noted that many IPP power plants are operating at less than 10% capacity, yet the government continues to make full payments. This situation, he argues, is worsening both the public's quality of life and business conditions in Pakistan. Sheikh warned that if electricity prices are not reduced, industries in the country may face closures. He also criticized the high cost of electricity in Pakistan, stating that it is already higher compared to other regional countries.

Credit: Independent News Pakistan