President for a viable solution to rising energy costs

ISLAMABAD, :President Asif Ali Zardari on Thursday called for finding a win-win solution to address the issue of rising energy costs in the country.

He proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) should form a committee and work with the President’s office to develop a viable solution to the issue of paying capacity charges to Independent Power Producers (IPPs).

The president gave these remarks while talking to a delegation of FPCCI comprising of businessmen and office-bearers of 40 regional business associations, led by Dr Gohar Ejaz, at Aiwan-e-Sadr.

Talking to the delegation, the president announced that the President’s office would collaborate with a smaller committee from the business community to find a win-win solution for the Government, the people, the business community and IPPs.

He urged for evolving a consensus solution so that none of stakeholders lose out. He said that he was aware of the problems being faced by Pakistani businesses, that were in a “triple-whammy” due to high input, energy, and fuel costs.

Dr Gohar Ejaz highlighted that rising energy costs were overburdening the people, industry, agriculture and exports sector. He emphasised the need for reforming the energy sector to bring down energy prices.

Dr Gohar Ejaz requested the president to intervene in the matter and play his role in resolving the issues faced by Pakistan’s industries and businesses due to high electricity prices.

The president assured the delegation of his support in coming up with a solution to their problems and taking up the matter with relevant quarters.