Published On: Thu, Jan 16th, 2020
Published in Category: Karachi

Govt efforts to rationalize power purchase agreements lauded.

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KARACHI: Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday lauded the efforts of the government to rationalize power purchase agreements signed with private power producers.

Balanced agreements will provide some relief to the masses and reduce the cost of doing business which will increase production and exports, he said.

Talking to the business community, the veteran business leader said that electricity is costly in Pakistan as compared to the regional countries which has many disadvantages including costly production.

The former minister noted that a flawed power policy was made a few decades ago in which national interests were compromised for personal welfare. Private power producers were allowed to use any fuel to generate electricity and they were offered unbelievable rates as well as relaxations.

This move increased power production and added to the wealth of people involved at the cost of the economy of Pakistan. Now the government has initiated serious efforts to improve the tilted agreements with private power producers which is in the national interest.