How Nawaz Zardari governments incurred a loss of Rs 956 billions to national exchequer with just one act?
ISLAMABAD - Former governments of Nawaz Sharif and Asif Zardari incurred a loss of Rs 956 billions to national exchequer with just one act.
The last two governments have made extra payments of Rs. 956 billion to independent power producers (IPPs) in the last ten years, says Senator Nauman Wazir Khattak
The senator revealed this during a meeting of a Standing Committee on Tuesday.
He presented an in-depth analysis of the IPPs’ agreements, showing that they should have earned Rs. 400 billion under the agreement, but their profit during the last ten years was Rs. 1,400 billion. “This is all visible on NEPRA’s website,” he said.
This amounts to more than $6 billion, or about the same amount that we’ve just borrowed from the IMF.
Senator Khattak’s observations, however, were rejected by the National Electric Power Regulatory Authority (NEPRA) and the IPPs. They believe that Senator Nauman’s comment is misconstrued.