Peshawar  -  The Sarhad Chamber of Commerce and Industry’s (SCCI) executive committee has termed the Independent Power Producers’ (IPPs) agreements as anti-Pakistan and detrimental to the national economy, urging the termination of all these contracts and the procurement of electricity from cheaper sources to alleviate economic strain.

The demand was made through a unanimous resolution adopted in a special one-point agenda executive committee meeting chaired by SCCI president Fuad Ishaq at the chamber house. The meeting was attended by chamber vice presidents Sanaullah and Ejaz Afridi, Businessman Forum (BF) senior leader Ilyas Bilour, former SCCI presidents Riaz Arshad, Zulfiqar Khan, Hasnain Khurshid, and Sherbaz Bilour, members of the executive committee, trade leaders, former president of Industrialists’ Association Peshawar Imran Ishaq, and representatives of Peshawar bazaar and market unions and associations.

Participants tied black ribbons on their arms and held black flags in protest against the IPPs agreements. They carried placards with slogans against the government and in favor of their demands, calling for the immediate cancellation of IPP agreements, securing Pakistan’s future, ending long power load-shedding, and stopping the collection of unjustified taxes.

SCCI chief Fuad Ishaq presented a resolution in the meeting, which was unanimously endorsed by the attendees. Talking to media after the meeting, Ishaq termed the IPPs agreements as cancerous for the country and national economy. He demanded an audit of the IPPs and the immediate cancellation of these one-sided agreements.

He also called for a comprehensive investigation into the IPPs, over-invoicing, and mis-declaration of capacity, stating that Pakistan had been defrauded and that all concerned should be held accountable and overpayments recovered.

Ishaq emphasized that the IPPs agreements were causing major harm to the people and pushing the industry to the verge of collapse. He advocated for the adoption of a ‘take and pay’ model, where payments are made only for the electricity actually supplied and consumed. He urged the government to utilize the country’s abundant hydel energy resources to produce cheap green energy for all consumers.

The SCCI president expressed support for investment in renewable energy sources and improvements in the national grid to reduce reliance on IPPs and enhance the overall efficiency and sustainability of the power sector.