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