Kakar elected president of FPCCI’s think tank

LAHORE Pakistan’s business community on Friday elected former Prime Minister Anwar-ul-Haq Kakar as President of FPCCI’s Economic Policy Business Development Think Tank.

Earlier during the conference business community shows their unity against agreements with Independent Power Producers. They called for dialogue and policy changes to address ‘unbearable’ electricity costs, as FPCCI conference featuring Anwar-ul-Haq Kakar and Dr. Gohar Ejaz highlights the issue’s far-reaching consequences for industries and the nation’s future.

Earlier, Former caretaker Prime Minister Anwar ul Haq Kakar while addressing the Businessmen Conference organized by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) regarding IPPs, said that the issue of IPPs is not just an industrial issue but a problem of 24 crore people.

Kakar said that the issue of Independent Power Producers is discussed in the Senate. “We fought for people’s rights before; we will fight this battle too,” Kakar said.

He also said those spreading despair about the country’s future on social media should know that the country’s future is bright. We will resolve the IPPs issue through dialogue, not point-scoring.

Former Federal Minister for Commerce and Interior Dr Gohar Ejaz and Chairman of FPCCI’s Economic Policy Business Development Think Tank said that the government’s negligence towards IPPs is being borne by the people. An audit of IPPs should be conducted. The whole of Pakistan is saying in one voice that we are affected by IPPs, and we need to find a solution to end the IPPs agreements. We never want our country to face a crisis.

Policies should be made to move Pakistan forward. There is electricity, but the problem is the cost of electricity. How can we compete with the world with expensive electricity?

FPCCI President Atif Ikram Sheikh and United Business Group (UBG) Chairman SM Tanveer said that they will appeal to the Supreme Court and SIFC against IPPs.

We will present the problem and its solution. The business community has said that industries are shutting down due to expensive electricity and high markup. It is impossible to do business at this electricity rate. Anwar-ul-Haq Kakar has been elected as the President of FPCCI’s Economic Policy Business Development Think Tank.

Electricity is so expensive that the electricity bill is unbearable. Due to wrong agreements, capacity charges have to be paid, and electricity prices are currently Pakistan’s biggest problem.

Annual capacity charges of Rs. 2,000 billion are being taken from the pockets of 24 crore people, and 25% of industries have already closed down. The country cannot run with such IPP agreements.