FPCCI to approach Supreme Court, SIFC on IPPs issue
LAHORE ( WEB NEWS )
Former Caretaker Prime Minister of Pakistan Anwar ul Haq Kakar has said that the Independent Power Producers (IPPs) issue is the issue of the entire nation alongside the business community and that instead of point scoring on it we will find out a viable solution through dialogue.
He said this while addressing a business conference organized by Federation of Pakistan Chambers of Conference and Industry (FPPCI) in Lahore as President of FPCCI’s Economic Policy Business Development Think Tank.
Kakar said that the issue of Independent Power Producers is discussed in the Senate. “We fought for people’s rights before, will fight this battle too and those spreading despair about the country’s future on social media should know that the country’s future is bright.
Former Federal Minister for Commerce and Interior Dr. Gohar Ejaz and Chairman FPCCI’s Economic Policy Business Development Think Tank said that the government’s negligence towards IPPs is being borne by the people. An audit of IPPs should be conducted. The whole of Pakistan is saying in one voice that we are affected by IPPs and we need to find a solution to end the IPPs agreements. We never want our country to face a crisis but the policies should be made to move Pakistan forward. There is electricity, but the problem is the cost of electricity. How can we compete with the world with expensive electricity, he questioned.
Chairman UBG SM Tanveer said that they will approach the Supreme Court and SIFC to explain the real issue as well as the satisfactory solution to pull the country out of the existing economic mess.
FPCCI President Atif Ikram Sheikh said that Anwar ul Haq Kakar’s business friendly policies will definitely bear fruit and will enhance the prestige of the fraternity.
Secretary General UBG, Zafar Bakhtawari said that Pakistan is full of investment and business opportunities but the only needed thing is to wisely formulate the economic policies in consultation with the real stakeholders. He said that IPPs and the existing crisis are linked with the future of Pakistan, adding that the country is in emergency situation and the leadership will have to take aggressive decisions to come out of the existing economic crunch.
Vice President FPCCI and Chairman Regional office Lahore Zaki Ejaz expressed gratitude to the participants by saying that we, unitedly will take the country forward to make it a prosperous one.
Shaikh Khalid Tawab former SVP, FPCCI and senior leader UBG Riaz ud Din Shaikh also highlighted the business community’s difficulties vis-à-vis ease of doing business and impressed upon the government to resolve the grievances on urgent basis for the economic betterment of the country.
Earlier during the conference business community demonstrated its unity against the agreements with Independent Power Producers and called for dialogue and policy changes to address the ‘unbearable’ electricity costs.
Due to wrong agreements, capacity charges have to be paid, and electricity prices are currently Pakistan’s biggest problem. Annual capacity charges of Rs. 2,000 billion are being taken from the pockets of 24 crore people, and 25% of industries have already closed down. The country cannot run with such IPP agreements.