IPPs high financial risk for the national economy, Dr. Baig.

Karachi, July: Dr. Mirza Ikhtiar Baig MNA PPP and former SVP FPCCI called Independent Power Projects (IPPs) a high financial risk to Pakistan’s economy. He demanded the conduct of a forensic audit of IPPs that are involved in over-invoicing and corruption. He said the looted amount was to be recovered and IPPs agreements to be cancelled. He demanded the government stop paying capacity charges to the closed powerhouses like Hub Coal, Sahiwal Coal, and Bin Qasim 1250 MW each and demanded that no IPP agreement be renewed on old terms where 60% capacity charge to be paid instead new agreements be made on competitive bidding (CTBCM) which have been approved by NEPRA in 2020 where only the power purchased from the IPPs to be paid. Our total power generation is 42,000 MW out of which half 21,000 MW is produced from IPPs, Dr. Baig said instead of new power generation, the transmission and distributed system is to be augmented to supply the power as the present system cannot supply more than 22,000 MW.