President Mardan Chamber of Commerce and Industry Zahir Shah said that the IPPs contracts are anti-national and destructive to the economy and demanded their immediate termination along with this, the interest rate of the banks should be reduced to a minimum to save the industry from closing down. Mardan Chamber of Commerce and Industry President Zahir Shah has described IPPs as a bane for the country’s economy and demanded immediate termination of these contracts by conducting a forensic audit. He further said that a comprehensive inquiry should be conducted into over-invoicing and mis-declaration of capacity in the IPPs contracts and to check that the government of Pakistan was cheated so much and to hold all the concerned people/officers accountable. He said that due to the IPPs agreements, the people are bubbling and the industries have reached the brink of destruction and the termination of these agreements has become inevitable for the stability and development of the country’s economy. He said that the Mardan Chamber fully supports the electricity payment model where payments should be made only for the electricity actually supplied and consumed. He has strongly demanded from the government and related institutions to use the abundant water resources available in the country in an efficient manner to provide cheap and green energy to the consumers. Mardan Chamber President Zahir Shah said that the business community fully supports investment in renewable energy sources and measures to reduce dependence on IPPs and overall efficiency and stability of the power sector and improve the national grade. President Mardan Chamber said that due to the high interest rate of our banks, where the industry is suffering, non-filers are attracted towards interest by putting their money in banks and getting attractive profit, so the interest rate should be reduced to a minimum level. He said that in the recent budget, excessive taxes have been imposed due to which the purchasing power of a common man has decreased. In developing countries, taxes are reduced so that the people can develop and prosper.
