Islamabad, September 1, 2024 — In a major development, 13 independent power producers (IPPs) have reportedly been summoned by a government investigation team following the discovery of “additional profiteering” by power plants established under the China-Pakistan Economic Corridor (CPEC), according to sources. Special Assistant to the Prime Minister on Power Division, Muhammad Ali, is leading the probe and has instructed the IPP owners to present financial reports.
The move follows a directive from the Senate’s Functional Committee on Devolution to conduct a forensic audit of the IPPs amid public outrage over soaring electricity bills. However, the Power Division refuted reports of any summons, emphasizing that negotiations with IPPs are ongoing and no unilateral action will be taken.
Energy Minister Awais Leghari warned against unilaterally ending IPP contracts due to their sovereign guarantee cover, while also hinting at potential concessions from Chinese IPPs and government-owned power plants to address Pakistan’s high electricity tariffs.
