Karachi: In a passionate plea for change, Johar Qandhari, President of the Korangi Association of Trade and Industry (KATI), has called for sweeping reforms in Pakistan's power sector. During an emergency press conference, Qandhari demanded a significant reduction in electricity prices to 9 cents per unit and the establishment of an electricity market to enhance competition. He criticized the financial burden imposed by Independent Power Producers (IPPs) and proposed a forensic audit and the cancellation of existing contracts with private companies deemed unnecessary.

According to Korangi Association of Trade and Industry, Qandhari highlighted the imbalance in national priorities, questioning the rationale behind favoring the interests of 40 IPP-owning families over the welfare of Pakistan's 240 million citizens. He pointed out the underutilization of the country's installed power capacity—only 22,000 out of 45,000 megawatts—and the high cost of unused electricity capacity charges that consumers bear. These charges contribute significantly to the nation's economic challenges, including increased production costs and higher consumer prices.

Qandhari's proposals include renegotiating government and private IPP contracts to more favorable terms, advocating for debt restructuring with China for IPPs under the China-Pakistan Economic Corridor (CPEC), and expanding transmission lines to fully utilize surplus electricity. By establishing an electricity market, Qandhari believes that the government can step back from directly managing power production and purchasing, thus fostering competition and giving consumers the power to choose their providers based on cost and service quality.

Support for Qandhari's demands came from various prominent figures at the conference, including Senator Abdul Haseeb Khan and senior industry leaders, who echoed the call for transparency and auditing of IPP contracts by international firms. They urged the Federal Minister for Energy to take immediate action to publicize and scrutinize these contracts, aiming to alleviate the financial strain on the economy and pave the way for sustainable growth.