Rawalpindi
It has been revealed that some of the IPPs (Independent Power Producers), private power companies in Pakistan have received billions of rupees from the government of Pakistan without generating electricity due to wrong contracts.
Sources revealed that these IPPs are reluctant to undergo a forensic audit despite the immense insistence of the Government of Pakistan.
These IPPS have received billions of rupees from the government of Pakistan for the maintenance of the plants, government is also bearing their insurance, but despite the payment of billions, the government can never become the owner of these plants.
Experts were of the view that these IPPs have earned hundreds of times their profit, so the contracts should be reviewed.
According to the sources, IPPs installed wind plants of the same capacity in Pakistan four times more expensive than in Bangladesh and Vietnam, and committed an over invoicing.
Despite coal reserves in Pakistan, IPPs are dependent on imported fuels such as high-speed diesel and imported coal for power generation. Costly electricity is being generated due to these initiatives of IPPs.
According to sources, IPPs did not generate as much electricity as they imported fuel and also received billions of rupees subsidy from the government.
The IPPs have received billions of rupees from the government of Pakistan for the maintenance of the plants, while not even a quarter of that amount is spent on the maintenance of the plants.
Sources say that surprisingly, the government of Pakistan is also bearing the insurance of IPPs itself. The Government of Pakistan also provided facilities to the IPP owners in terms of tax duty and insurance.
Despite bearing all the expenses, the plants will not be owned by the Government of Pakistan at the end of the contract period.
According to the sources, most of the owners of the IPPs are local, but deliberately the contracts were made in the name of some foreigners.
According to experts in the energy sector, owing to heavy payments to IPPs, the government is facing serious difficulties to invest in other important sectors.
According to sources, most of the IPPs in Pakistan are monopolized by a few influential families. Some IPPs are willing to negotiate with the government and reduce prices voluntarily, but due to the conspiracy and mutual connivance of IPPs, the government of Pakistan has lost billions of rupees.
