Karachi: Altaf Shakoor, Chairman of the Pasban Democratic Party (PDP), demanded the cancellation of all contracts with Independent Power Producers (IPPs), citing their detrimental impact on Pakistan’s economy. He also advocated for a uniform electricity tariff and increased support for local industries to prevent further economic decline.

According to Pasban Democratic Party, Shakoor outlined a series of reforms aimed at curbing the high cost of electricity which he claims is driving deindustrialization and exacerbating unemployment and poverty in Pakistan. These proposed reforms include the abolition of performance-based contracts with IPPs, which have burdened taxpayers with trillions in capacity payments and contributed to the national circular debt.

He also highlighted the government’s inconsistent policies that support the import of industries while local enterprises suffer. Shakoor’s suggestions for economic recovery include installing new nuclear power plants, building dams for hydropower, and providing substantial subsidies for solar energy, aiming to stabilize the economy and support the crucial agricultural and industrial sectors.