Friday, October 18, 2024

FPCCI to Challenge IPP Contracts in Supreme Court

Former caretaker minister for commerce, Dr. Gohar Ijaz, has announced that the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) will approach the Supreme Court to challenge the contracts of independent power producers (IPPs).

In a message on social media platform X (formerly known as Twitter), Dr. Ijaz stated that the FPCCI, which represents Pakistan’s business community, has resolved to file a petition urging the court to intervene in the IPP agreements, describing the situation as intolerable and impacting the right to life of every Pakistani.

- Advertisement -

Pakistanis are facing a heavy financial burden under the IPPs contract. Billions have been paid to companies that do not produce electricity. The high cost of electricity has become unbearable for Pakistanis, pushing citizens into poverty and causing businesses to go bankrupt,” said Dr. Ijaz.

Read also: Mustafa Kamal Calls IPPs a National Security Threat

He highlighted a detailed report authored in 2020 by former interim energy minister Muhammad Ali, revealing significant losses due to government incompetence and IPP misrepresentations. Dr. Ijaz questioned why the report’s recommendations, including a forensic audit, have not been fully implemented.

Dr. Ijaz emphasized that the government must prioritize the survival of 240 million Pakistanis over guaranteed profits for 40 families. He stressed that Pakistan is rich in resources and that eliminating mismanagement is key to prosperity.

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

1 COMMENT

0 0 votes
Article Rating
Subscribe
Notify of
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
MUHAMMED
MUHAMMED
2 months ago

Why not the APTMA of which he is past president & patron in chief?

Latest stories

-Advertisement-

Highlights of the Week
Related

Chinese Team Investigates Karachi Suicide Attack Targeting Delegation Near Airport

A high-level team from China has arrived in Karachi...

Cyclonic System in Arabian Sea to Intensify into Depression: Met Office

A low-pressure area over the Southeast Arabian Sea has...

TikTok Releases Q2 2024 Community Guidelines Enforcement Report

In its ongoing efforts to foster a safe and...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!