Karachi: Chairman of the Pasban Democratic Party (PDP), Altaf Shakoor, voiced serious concerns on Sunday about the escalating costs of electricity in Pakistan, linking them to increasing deindustrialization, which he believes will further elevate poverty and unemployment.

According to Pasban Democratic Party, Shakoor criticized the government’s contracts with Independent Power Producers (IPPs) as illegal and detrimental to the nation’s economy. He argued that these contracts have resulted in wasteful capacity payments from taxpayer money, contributing to the rising circular debt and undermining economic stability.

Despite the surplus electricity suggested by these capacity payments, Shakoor highlighted that the populace still suffers from extensive daily load shedding. He also condemned the historical mismanagement of key industries such as the Pakistan Steel Mills and the ongoing neglect of the agricultural and industrial sectors. Additionally, Shakoor proposed solutions including the adoption of solar and wind energy, the construction of new nuclear power plants and dams, and the reformation of electricity tariffs and subsidies to support local industries.