Task Force aims at shifting IPPs contracts to take-and-pay formula: Gohar Ejaz
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Renown industrialist and former Caretaker Commerce Minister Gohar Ejaz has said that negotiations with 107 IPPs of 40 richest families are entering the final stage and in first phase Federal Cabinet has approved the termination of contracts with the first five IPPs, reported 24NewsHD TV channel.
Taking to his social mediate account on X, Gohar Ejaz said that IPPs received Rs100 billion from national kitty annually without even producing power in their plants and power consumers continued to pay capacity payments to these IPPs.
He further said that government’s Task Force on IPPs was making all out efforts for the economic and social revival of the country.
Gohar Ejaz said Task Force was aimed at shifting IPPs contracts to take-and-pay formula so that next payments will be made only to the power plants that generate electricity.