ISLAMABAD: President Asif Ali Zardari on Thursday urged to devise a “win-win solution” to address the issue of rising energy costs in the country.
He proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) form a committee to work with the President’s office to develop a viable solution for paying capacity charges to Independent Power Producers (IPPs).
President Zardari made this suggestion while speaking to a delegation of FPCCI, comprising businessmen and office-bearers of 40 regional business associations, led by Dr. Gohar Ejaz, at Aiwan-e-Sadr on Thursday.
He announced that the President’s office would collaborate with a smaller committee from the business community to find a mutually beneficial solution for the government, the people, the business community, and IPPs.
The President urged the development of a consensus solution to ensure that no stakeholders lose out. He acknowledged the problems faced by Pakistani businesses, describing them as being in a “triple-whammy” due to high input, energy, and fuel costs.
Dr. Gohar Ejaz highlighted that rising energy costs were overburdening the people, industry, agriculture, and exports sector. He emphasized the need to reform the energy sector to reduce energy prices.
Dr. Ejaz requested the President to intervene in the matter and play his role in resolving the issues faced by Pakistan’s industries and businesses due to high electricity prices.
President Zardari assured the delegation of his support in finding a solution to their problems and committed to taking up the matter with the relevant authorities.
