FPCCI to move SC against capacity payments to IPPs

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has decided to approach the Supreme Court (SC) against the payment of billions of rupees in capacity payments to Independent Power Producers (IPPs).

FPCCI will file a formal petition in the Supreme Court, said Gohar Ejaz, former interim minister.

“This situation affects every Pakistani’s right to life,” stated Gohar Ejaz, emphasizing that Pakistan cannot afford to repeat the same mistakes in a few years.

“We need to eliminate mismanagement to achieve prosperity,” he added.

Gohar Ejaz also highlighted that the high cost of electricity has become unbearable for all Pakistanis, increasing poverty and bankrupting businesses.

“Pakistan pays billions of rupees to IPPs that do not produce electricity,” he remarked, urging the government to decide whether the survival of 240 million Pakistanis is more important than ensuring profits for 40 families.

Earlier, President Korangi Association of Trade and Industry (KATI) said that the IPP agreements and expensive electricity has pushed industries on the verge of devastation.

President KATI Johar Ali Qandhari has stated that the IPPs, expensive electricity and huge taxes have pushed industries in Korangi to ruins. “Payments being made in dollars for the electricity which is not being utilized”.

He said that 350 industries have been closed and big industries have curtailed their units in Korangi, while 60,000 workers have been unemployed.