Businessmen urge govt to revoke IPP deals

Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) has underscored the critical importance of cancelling all agreements with independent power producers (IPPs) and procuring electricity from cheaper sources without any capacity charges. A consensus in that regard was reached at a think tank session of the PCJCCI held at the Chamber Secretariat on Thursday. “Despite a vast potential for solar energy, Pakistan has only scratched the surface of its capabilities. The country is blessed with abundant sunshine, making it an ideal location for solar power generation,” the PCJCCI said. In other countries, solar energy is available for four cents but in Pakistan the government is selling it for 13 cents, which needs to be pondered over. Pakistan’s government, while recognising the importance of renewable energy, has introduced some favourable policies and incentives to promote the development of solar energy.