Year on year the hapless people have been the victims to the inflated cost of the electricity bills. They wait with bated breath to see if they can be spared of this grueling grind.
Theft, corruption, incompetence, and line losses can be seen as the main attributable factors including capacity payments which hangs like the sword of Damocles. Under no circumstance this capacity payment can be avoided. One is obliged to pay capacity charges even if it comes to a grinding halt. It is covered by the sovereign guarantees.
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Attempts have been made by different governments to seek some kind of a relief but all in vain.
One suggestion is to cancel all these capacity payments of all the IPPs agreed upon by the Government. But no IPP will be ready to give up on this draconian levy. This may entail graver consequences thus far exceeding penalties imposed by the international courts in the Reko Diq case. So option one is out.
The second option is to negotiate with the IPPs to get relief from the capacity payments. But this seems highly unlikely as they may not like to forsake the lucrative earnings going to their coffers. So option no 2 seems off the wall.
The third option has never been considered nor tried, because it is not a part of the agreements. All agreements are based on their governing law. In this case, it is The Contract Act (IX of 1872).
An English firm to expeditiously cater to this rigmarole whereby a favourable and a just judgement could be arrived at. The engineers in this regard can be hired to assist these companies. The aid of the act 23 can be invoked for the categories of different IPPs is concerned. There are are three categories covering the the foreign, the local and the govt IPPs.
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First and foremost the IPPs in the govt sector like Punjab govt and fauji fertiliser are controlled by the federal govt. It will be beyond our comprehension if they didn’t agree to the government demands by not doing away with these hard hitting capacity charges.
The second category is basically of those who are mostly Pakistani political elite, the businessmen and private citizens. If you took a keen interest in deducing how they must have gone in for it may have been an arrangement where in they would have contributed 20% as their own equity and 80% the financial support which they got from the banks. A further look into the matter would reveal that how they must have made over and above what it cost them initially. The loans would have been paid off and all accounts settled. So they wouldn’t mind as regards finishing the capacity payments.
The third is of the foreign countries. A forensic audit is what is suggested by many critiques.
It will take little longer than before if their case is decided in the courts.
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