ISLAMABAD   -   Ahsan Zafar Bakhtawari, pres­ident of Islamabad Chamber of Commerce and Industry, has termed the IPPs as det­rimental for the country’s sustainability and demanded their forensic audit.

He said that the entire busi­ness community is on the same page over the issue and it will not let the government to renew their contracts with­out taking it on board. He said that the individuals respon­sible for excessively costly agreements should be held ac­countable, with consequences for negligence or misconduct.

He said that the high tariffs and capacity payments have made electricity unaffordable for the industry as well as the common people which is badly affecting the country’s export sector as the buyers in the global market have start­ed looking for alternatives of Pakistani products.

The ICCI president said this while addressing a press con­ference on Wednesday. He urged the government to com­prehensively review all agree­ments with IPPs, prioritizing the nation’s best interests, and ensure full transparency through disclosure of all con­tracts and associated details. This review should identify and address power plants receiving payments without generating output, and in­clude regular performance evaluations and machinery condition assessments, with findings made public. Addi­tionally, agreement expiration dates should be published pre-renewal, and all agree­ments should require manda­tory parliamentary approval. By taking these steps, the gov­ernment can ensure that the nation’s interests are protect­ed and that the power sector is operated in a transparent and accountable manner.

PPP MNA and UBG leader Dr. Mirza Ikhtiar Baig said that a delegation of business lead­ers is holding a meeting with President Asif Ali Zardari to­morrow (Thursday) over the issue to apprise him of the dire situation and find out a viable way forward. He added that according to a report most of the IPPs are accused of breach of contracts, therefore the gov­ernment should not hesitate in initiating a criminal action against them. Vice President ICCI Azhar ul Islam Zafar de­manded that an inquiry com­mission should be constituted to probe the entire episode and to bring those involved in wrong doings to justice.

Former President ICCI and Secretary General United Business Group Zafar Bakhta­wari said that the IPPs issue is not the issue of the busi­ness community and the gen­eral public but the issue of the country’s sustainability.

Former President ICCI Tariq Sadiq also pointed out the disparities in the rates of the IPPs by saying that Pakistan is bearing the highest electricity rates of the IPPs in the region.

The business community present on the occasion also adopted a unanimous resolu­tion demanding forensic audit of the IPPs, procurement of the IPPs by the government as scrape and non-renewal of their contracts in future.

Those present on the oc­casion among other include former President ICCI Mian Shaukat Masood, President All Pakistan Anjuman-e-Tajran Aj­mal Baloch, Malik Shabbir, Ma­lik Mohsin Khalid, Zulqurnain Abbasi, Waseem Chaudhry, Irfan Chaudhry, Maqsood Tabish, Ameer Hamza, Mu­nizeh Majid etc.