FPCCI to form committee under President's proposal to tackle IPP charges

August 02, 2024 (MLN): To address the issue of paying capacity charges to Independent Power Producers (IPPs), President Asif Ali Zardari has proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) form a committee to work with the President’s office.

The President gave these remarks while talking to a delegation of FPCCI comprising businessmen and office-bearers of 40 regional business associations, led by Dr Gohar Ejaz, at Aiwan-e-Sadr today.

Talking to the delegation, the President announced 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.

He urged the for evolving a consensus solution so that none of stakeholders lose out.

He said that he was aware of the problems being faced by Pakistani businesses, that were in a “triple-whammy” due to high input, energy, and fuel costs.

Dr Gohar Ejaz highlighted that rising energy costs were overburdening the people, industry, agriculture and exports sector. He emphasised the need for reforming the energy sector to bring down energy prices.

Dr Gohar Ejaz requested the President to intervene in the matter and play his role in resolving the issues faced by Pakistan’s industries and businesses due to high electricity prices.

The President assured the delegation of his support in coming up with a solution to their problems and taking up the matter with relevant quarters.

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