Tuesday , April 7 2020

Mian Mansha’s Nishat Power taking 32pc profit, Senate told

Islamabad: Industrialist and banker Mian Muhammad Mansha’s Nishat Power was taking 32 % profit, however other independent power producers were restricted to take 17% profit.

The additional secretary power told the Senate Standing body on Tuesday that the government was paying capacity charges to 41 private power plants. All the independent power plants were given 27% profit while Mian Muhmmad Mansha was given 41% profit.

The Senate committee meeting led by Senator Fida Muhammad had urged National Electric Power Regulatory Authority (NEPRA) to give report over giving excessive leverage and profits to Reshma power plant.

Officials failed to given the response over the generation capacity of Reshma power plant during the meeting. Senator Nauman Wazir lashed out at NEPRA and power ministry over irregularities in power sector.

Officials of Reshma power told the meeting that the plant was generating 5 to 6 percent of its capacity. This is because of the wheeling issues that company has its own and the power sector policies in this regard are not being implemented.

Minister for Power Omar Ayub Khan while speaking at this meeting asserted that Pakistan will produce 30% of its energy through renewable sources by 2030.

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