In the report of about 278 pages, IPP stated that the National exchequer faces a loss of about Rs.4tr by the irregularities of the power sector. On April 21, PM Imran khan allows making an inquiry report on alleged irregularities in the power sector. The report stated that the inefficiencies by the power sector caused 370 billion rupees of loss on an annual basis from 2007 to 2019. Although the cumulative budgetary support to the power sector is about 3.202 trillion rupees in subsidies and other liquidity injections in that time period of 12 years.
The former SECP Chairman Muhammad Ali headed the committee, said that Pakistani people are getting electricity on higher rates in the whole region. On the other hand, they blame some private companies for providing false oil statistics to protect better tariffs.
According to the further statement by committee, in the power policy of 1994, 16 private power companies (IPPs) gets revenue of Rs.400 billion on the investment of about Rs.60 billion. These IPPs investors paid 22 times of the profit to their business partners.
This Inquiry report makes a great break in the power sector. After the inquiry report for sugar and wheat scandal, this report seems to be another great step against the irregularities going on with no check. All the sectors that are doing irregularities are now at high risk due to the fright of being investigated.
IPP reports irregularities in Power Sector makes the loss of Rs.4tr
