"First Time in Pakistan's History, IPP Agreements Terminated... Special Interview with Rana Ehsan

ARY NEWS

Transcript

00:00Mr. Waleed, the difference between inflation and inflation, I thought if the government

00:05ministers come, they should be asked whether things have become cheaper or are becoming

00:09more expensive.

00:10Because when they talk about inflation, they come in the middle of inflation, so people

00:14get confused.

00:15You tell me that this is basically in our policy, especially when I was mentioning that

00:20sometimes it is about solar, sometimes they say that our transmission and dispatch system

00:24is there.

00:25Now we have surplus energy.

00:26We have no idea about this.

00:27And we are also stuck in the web of IPPs.

00:29So this is a very serious issue.

00:31And you must have an idea that the government cannot get out of the IPPs issue at the

00:35moment.

00:36What can be done?

00:37If you want to give any suggestion.

00:39Yes, when we were in our government, these issues came up at that time too.

00:45So we have also resolved a lot of the IPPs issue very amicably or in a very friendly

00:52manner.

00:54We have also resolved the issue of Rekodik.

00:59The people who were interested in the conflict of interest issue, they were included in

01:03that board.

01:04Mr. Nadeem Babar is a great example of that.

01:06You see this.

01:07Don't say this.

01:08The issue of 8 billion dollars that we were going to get vaccinated, our government

01:12resolved it.

01:13And apart from that, there are many other examples like Karki.

01:1814-15 billion dollars.

01:21I don't have all the details right now.

01:24I don't have my notes.

01:25I can make you count everything that we did at that time.

01:29But there is a difference at this time, by the way.

01:32I will give you an example.

01:35A report came out last week.

01:37What pressure is being put on our banks?

01:41That Pakistan is a power-limited company.

01:45It is a power-holding limited company.

01:47It should be given financing below 0.9 basis points.

01:57In Punjabi, it is said that it is not viable.

02:01But they are being forced to do this.

02:07The power holdings are more than 25 basis points.

02:12Circular debt and all other issues are related to it.

02:17In the same report, it is also mentioned that the point at which the IPPs were brought

02:24in this era, they are not viable because they were brought by force.

02:30This is also in the knowledge of the IMF.

02:33The IMF has not taken too kindly to this.

02:38How can you coerce the parties?

02:42It was the turn of the IPPs.

02:46Now it's the turn of the banks.

02:48All this is happening in this sector.

02:51Let's take an answer to this too.

02:53I am saying that the way the IPPs coerced,

02:58even if they don't produce anything,

03:00A lot of IPPs were offered to conduct a detailed audit.

03:06They did not opt for this.

03:11They went for a mutual agreement that we will close our bond.

03:16A lot of IPPs were offered.

03:19But I think that they were going to make a lot of noise.

03:22In their era, they gave permission for arbitrage.

03:26After that, a lot of people went to the courts.

03:29And no result came out of it.

03:31For the first time in the history of Pakistan,

03:33in real terms, these bonds were abolished.

03:35And there is a massive saving.

03:37The savings of 1,400 billion have already been achieved.

03:40And beyond that.

03:42And that transfer was also slow.

03:44You saw that in June-July, the rate of electricity was 55-58-60 rupees.

03:50Today it is 42-43.

03:52It has to do with the demand as well.

03:54It has to do with the demand as well.

03:56It goes with the solar as well.

03:58And it also has to do with the grid electricity.

04:00It has to do with the demand.

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