ISLAMABAD – *Two mega projects by PMLN government to cause loss of $14billion to Pakistan, NAB Report has claimed.*
Alarmed by the high tariff granted to Sahiwal and Port Qasim coal-firedpower plants, the National Accountability Bureau has initiated an inquiryagainst the former officials of National Electric Power RegulatoryAuthority (NEPRA) and the Ministry of Water and Power who allegedlyfavoured the above-mentioned power plants in getting undue raise in tariffwhich caused a loss of millions of dollars to the national exchequer.
Documents available with Pakistan Today revealed that the nationalexchequer has incurred annual losses of $470 million after higher officialsfrom NEPRA and Ministry of Water and Power allegedly favoured Sahiwal andPort Qasim coal-fired power plants by raising the tariff allegedly abovethe market rate.
Since the life of these coal power plants has been fixed as 25 years,additional tariff given to these power plants will make the nationalexchequer bear losses of approximately $14 billion during this period,sources said.
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It has been learnt that energy tariffs in Pakistan are the most expensivein the world. High upfront tariff and capital costs have resulted in thehigh price of electricity and loss of competitiveness of Pakistani exportsand industry, leading to a massive balance of payments crisis.
