President Asif Ali Zardari has proposed the formation of a committee by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to collaborate with the President’s Office in finding a feasible solution to the issue of paying capacity charges to independent power producers (IPPs). This move aims to address the rising energy costs in the country, which have been a major concern for citizens, industries, agriculture, and the export sector.

The FPCCI has already announced plans to challenge capacity payments to IPPs in the Supreme Court, citing that the capacity payment agreements with IPPs were signed during the tenure of former prime minister Nawaz Sharif in 2015. Despite widespread complaints about high electricity bills, Prime Minister Shehbaz Sharif and Power Minister Awais Leghari have yet to address the issue of IPP capacity payments.

During a meeting with an FPCCI delegation, President Zardari acknowledged the challenges faced by Pakistani businesses, which are struggling with high input, energy, and fuel costs. He emphasized the need for a collaborative solution to address high energy costs and announced that his office would work with a smaller committee from the business community to find a win-win solution for all.

The FPCCI delegation, led by former commerce minister Gohar Ejaz, highlighted the burden of rising energy costs on citizens, industry, agriculture, and the export sector. They stressed the need for energy sector reforms to reduce prices and urged the president to intervene to resolve the issues faced by Pakistan’s industries due to high electricity prices.

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