President seeks solution to IPP issue

Zardari wants FPCCI-President House panel to develop a viable solution

ISLAMABAD:

President Asif Ali Zardari called on Thursday for finding a win-win solution to address not only the issue of rising energy costs but of paying capacity charges to the Independent Power Producers (IPPs), conveying he was aware of the problems being faced by people and the business community due to the current energy crisis.

Subsequently, the president proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) should form a committee and work with the President's Office to develop a viable solution to the issue of paying capacity charges to the IPPs.

The president gave these remarks while talking to a delegation of FPCCI comprising businessmen and office-bearers of 40 regional business associations, led by former interim commerce minister, Dr Gohar Ejaz, at Aiwan-e-Sadr on Thursday.

While talking to the delegation, President Zardari said that the President's Office would collaborate with a smaller committee from the business community to find a win-win solution for the government, the people, the business community and IPPs.

President Zardari urged for evolving a consensus solution so that none of the stakeholders lose out. An official statement issued after the meeting said that President Zardari was aware of the problems being faced by Pakistani businesses, saying they were in a "triple-whammy" due to high input, energy, and fuel costs.

Meanwhile, Leader of the MQM-P, Mustafa Kamal said that the issue of Independent Power Producers (IPPs) was not a political matter, rather some disgruntled elements were politicizing it for their vested interests.

Addressing the joint press conference along with Minister for Information and Broadcasting, Attaullah Tarar after his meeting with Prime Minister Shehbaz Sharif here Thursday, the MQM-P leader said that over-billings in the electricity tariffs and the payment of non-development charges to IPPs were illegal.