The government has announced plans to shift the financial burden of payments to Independent Power Producers (IPPs) onto citizens already struggling with inflation.
During a meeting of the National Assembly’s Standing Committee on Energy, the Secretary of Energy – Fakhre Alam Irfan – stated that both the payments to IPPs and the interest on the revolving loan will be borne by the public.
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He stressed that the government is being pressurized by the International Monetary Fund (IMF), and cannot afford to increase circular debt. Despite discussions with the IMF, the organization remains firm on its stance.
Additionally, the government is moving forward with the privatization of Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GAPCO), and Faisalabad Electric Supply Company (FESCO), aiming to relieve itself of the financial strain these companies currently impose.
