Recent disclosures have shed light on the entities within the Independent Power Producers (IPPs) sector that are receiving payments from the government without generating electricity. These details highlight both the owners of these companies and the substantial amounts being withdrawn from the national treasury.
Former caretaker minister Gohar Ejaz recently shared insights into the financial transactions involving IPPs. His revelations included detailed information on the companies, their owners, and the associated financial transactions.
Among the IPPs, Fauji Kabirwala Power Company Limited, established under the Fauji Foundation, was highlighted for receiving over PKR 560 million over three months despite operating at zero per cent capacity.
Additionally, Chiniot Power Limited, owned by Suleman Shehbaz, son of Prime Minister Shehbaz Sharif, was noted for its financial transactions based on capacity charges.
In January 2024, it received PKR 307 million for 63% capacity; in February, PKR 231 million for 65% capacity; and in March, PKR 99.9 million for just 27% capacity. These figures illustrate the significant financial implications and the ongoing concerns regarding accountability and efficiency within the IPP sector.