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.
“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.
Karachi witnessed a vibrant diplomatic gathering, as the Honorary Consulate of Mozambique marked the country’s…
Professor Karim Damji has been appointed as the Dean of the Medical College, Pakistan. A…
Global accountancy body ACCA (the Association of Chartered Certified Accountants) has announced a redesign of…
Pakistan’s first monsoon spell of the season begins today, with widespread rainfall forecast across the…
Advergic is the only ad tech company in Pakistan officially partnered with Google to directly…
33-year-old state legislator Zohran Mamdani is on track to win New York City’s Democratic mayoral…
This website uses cookies.