Nandipur power project termed a white elephant

Islamabad, February 04, 2016 (PPI-OT): Pakistan Businessmen and Intellectuals Forum (PBIF) on Thursday said Nandipur power project has become a burden which should be closed to save public exchequer from further losses.

Those who took decision regarding the project overlooked some important aspects which has transformed over half a trillion project into a liability, it said.

Nepra recently revised its tariff from Rs 11.30 to 11.63 which cannot save this Titanic from sinking which will contribute to circular debt and heavy losses, said President PBIF, All Karachi Industrial Alliance and First Vice Chairman of the Businessmen Panel of FPCCI Mian Zahid Hussain.

He said that Nepra is under pressure to further revise the tariff which would be against the national interests as government will have to endure a loss of Rs30 billion per annum.

He also criticised the management of the power project that wants power tariff revised to Rs 15.63 and asked the MD of the company to stop justifying Rs36 per unit cost.

Mian Zahid Hussain said that the controversial Nandipur project has faced many inquiries including that of NAB and auditor general in which some facts were kept secret which not a single big fish has been netted.

Petroleum minister has claimed that the power plant can become viable if it run by natural gas without realising that the nearest gas pipeline is 170 kilometre away from the site. He said that power crisis should not be used to plunder national resources.

For more information, contact:
Mian Zahid Hussain,
Pakistan Businessmen and Intellectuals Forum (PBIF)
Tel: +92-343-2226888
Tel: +92-300-8233364