A nine-member committee which investigated the country’s power sector has suggested the government to recover Rs 100b from the Power Plants owners and asked to end the payment formula for them.
ISLAMABAD: (UrduPoint/Pakistan Point News-April 11th, 2020) Following Wheat and Sugar crisis, another Power Sector crisis of Rs 100 billion loss to national exchequer took place, the sources said here on Saturday.
The sources said that an investigative report on latest Power sector crisis was submitted to Prime Minister Imran Khan. A nine-member committee looked into the crisis and prepared a 278-page detailed report on it.
The inquiry report held that increase in tariff, consumption of fuel and interest in Dollars were factors that caused loss to the national exchequer. The agreements with power plants were also declared illegal by the inquiry committee.
According to the sources, the inquiry committee found that the owners of IPPs received an unfair amount of Rs 350 billion first time now after 1994. The power plants were making profit of 50 to 70 per cent instead of 15 per cent, and similarly, heavy tariff was charged from Nepra by showing it extra price of each and every power plant. The report said that at least 30 billion rupees were extra charged from the original cost of Coal Power Plant.
The committee members in their report suggested the Federal government to end payment formula with Power Plant Owners and recover Rs 100 billion from them.
Earlier in a statement, Special Assistant to Prime Minster Dr. Fridous Ashiq Awan said that the inquiry report on recent Wheat and Sugar crisis was made public in compliance with the directives of Prime Minister Imran Khan and it was done for the first time in the country’s history. She said that nobody should criticize this report and said that all the facts would come clear on April 25 and all the people responsible for the crisis would be brought to justice.
