ISLAMABAD: President Asif Ali Zardari on Thursday proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) form a committee to collaborate with the President’s Office in finding a feasible solution to the issue of paying capacity charges to independent power producers (IPPs).

The president made these remarks during a meeting with an FPCCI delegation, which included businessmen and office-bearers from 40 regional business associations, led by former commerce minister Gohar Ejaz, at Aiwan-i-Sadr.

An official announcement said President Zardari called for a win-win solution to address the rising energy costs in the country. The FPCCI has already announced plans to challenge capacity payments to IPPs in the Supreme Court.

Despite widespread complaints about high electricity bills, Prime Minister Shehbaz Sharif and Power Minister Awais Leghari have yet to address the issue of IPP capacity payments.

Calls for collaborative solution to address high energy costs

According to the FPCCI, the capacity payment agreements with IPPs were signed during the tenure of former prime minister Nawaz Sharif in 2015. After receiving no response from the PML-N government, the FPCCI approached PPP leader Asif Ali Zardari for intervention.

During his discussion with the delegation, President Zardari announced that his office would work with a smaller committee from the business community to find a win-win solution for all. He acknowledged the challenges faced by Pakistani businesses, which are struggling with high input, energy and fuel costs.

Former minister Gohar Ejaz highlighted that rising energy costs were burdening citizens, industry, agriculture, and the export sector. He stressed the need for energy sector reforms to reduce prices and urged the president to intervene to resolve the issues faced by Pakistan’s industries due to high electricity prices.

Published in Dawn, August 2nd, 2024

Opinion

Editorial

Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.
Concerning measures
Updated 03 Nov, 2024

Concerning measures

The govt must seek political input and consensus on the changes it is seeking to make and be open about its intentions.
Short-lived relief?
03 Nov, 2024

Short-lived relief?

POLICYMAKERS must be jumping with joy. At the close of the first quarter of FY25, the budget posted a consolidated...
Brisk spread
03 Nov, 2024

Brisk spread

THE surge in polio cases has reached distressing levels with a tally of 45 last reported, after two cases emerged in...