Islamabad: The facts regarding the destruction of IPPs in the country’s economy have come to light.
According to the sources, IPPs received billions of rupees from the government of Pakistan without generating electricity. Wrong contracts were made with them, the consequences of which the government of Pakistan is having to bear.
IPPs overinvoiced by making wind plants of the same capacity four times more expensive in Pakistan than in Bangladesh and Vietnam.
Despite coal reserves in Pakistan, IPPs are dependent on imported fuels such as high-speed diesel and imported coal for power generation. Due to these measures, expensive electricity is being generated.
The IPPs did not generate as much electricity as they imported fuel and also received billions of rupees from the government and received billions of rupees from the government of Pakistan for the maintenance of the plants, while in fact not even a quarter of that amount was spent on maintenance. would have
IPPs are reluctant to undergo forensic audit despite the immense insistence of the Government of Pakistan. Surprisingly, the Government of Pakistan is not only bearing the insurance of the IPPs itself, but also bore the cost of setting up the IPPs in the beginning.
Government of Pakistan also provided facilities to IPP owners in terms of tax duty and insurance. Despite bearing all expenses, the plants will not be owned by the Government of Pakistan on expiry of the contract period. Most of the owners of the IPPs are local citizens but deliberately the contracts were made in the name of some foreigners.
According to sources, according to energy sector experts, due to heavy payments to IPPs, the government is facing severe difficulties to invest in other important sectors. IPPs have earned hundreds of times their cost, so the contracts should be reviewed.
Experts say that most of the IPPs in Pakistan are monopolized by a few influential families. Due to the collusion of IPPs, the government of Pakistan has lost billions of rupees. Now some IPPs are willing to negotiate with the government and reduce prices voluntarily.
