Rising Electricity Prices Strain Pakistani Consumers and Disrupt Business Activities : Hafiz Naeem

The escalating electricity prices in Pakistan have significantly strained consumers’ lives and adversely affected business operations.

Jamaat-e-Islami has organized protests, staged sit-ins, and brought attention to the inefficiencies of Independent Power Producers (IPPs). Meanwhile, the business community has also intensified its demonstrations.

As a result of this concerted effort, promising developments are beginning to surface, with the first IPP expressing willingness to renegotiate the terms of its agreement.

According to Roznama Jang, Imran Khan, CEO of an IPP in Karachi, announced that they are voluntarily reducing the Return on Equity from 18% to 10%.

Dawn further reported that Shehryar Chishti, Chairman of Pak Asia Investment, the parent company of Liberty Power, emphasized in a press conference the need for collective efforts to alleviate the burden of high electricity prices on the public.

He urged power plants to explore solutions to decrease electricity production costs, suggesting the use of domestic gas as a potential measure. Chishti also expressed readiness to engage in discussions with the government to revise existing agreements.