ISLAMABAD - Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to resolve the payment issues of independent power producers (IPPs) for reducing the 12 to 14 hours loadshedding as prolonged power outages are causing immense problems for the masses.
Yassar Sakhi Butt, President ICCI, said that Finance Ministry and representatives of IPPs should sit together and resolve the dispute of outstanding dues. He said that government should at least pay 50 percent payment to IPPs to increase electricity production because due to continuous power tripping, industrial output has badly suffered.
He was responding to the reports that total over due payable amount to IPPs was over Rs.45 billion and system is moving towards a total collapse due to non-payment of dues to these power plants.
ICCI President said that Pakistan State Oil has already sent letter to the ministry, threatening to cut furnace oil supplies to IPPs if the Government failed to clear its dues without any further delay. He said that Government must clear its outstanding payment to IPPs on priority basis to ensure these power plants remained in operation. Yassar Sakhi Butt also highlighted the problem of circular debt that has swelled to Rs.670billion becoming a big threat to economic survival of the country. He said that every passing day the country is sinking deeper and deeper into economic mire which needs an economic stimulus plan to get it back on track.
He was of the view that if the Government fails to take immediate measures the power sector is likely to choke up due to heavy outstanding dues.
He urged the Government to take urgent steps for making payments to cope with the fast deteriorating energy situation.
ICCI President said that Country would have no future unless effective management of power sector, curtailing thefts, initiating new hydroelectric projects, revisiting energy mix, enabling environment and most importantly Thar coal reserves are exploited.