APTMA demands transparency on IPPs deals

ISLAMABAD: In a new move, the All Pakistan Textile Mills Association (APTMA) has formally requested detailed information about independent power producers (IPPs) from the government. Citing the Right of Access to Information Act, the APTMA has sought transparency in the power sector.

This request has been made in the public interest to promote transparency and accountability in matters of public importance. The information provided will be used for research and analysis to better understand the power sector’s governance and policy implementation.

In letters to key government officials, including the secretary of the power division; the chief executive of the Central Power Purchase Agency (CPPA)-G; the managing director of the Private Power Infrastructure Board (PPIB); and the chairperson of the Securities and Exchange Commission Pakistan (SECP), the APTMA asked for the provision of copies of all extension agreements about the PPAs, including the terms and conditions of such extensions and any financial benefits extended pursuant to the extension agreements.

It also sought copies of all settlement agreements executed between the government of Pakistan and IPPs, including the details of the terms and conditions agreed upon and the financial benefits extended to them.

The umbrella forum of the textile industry also asked the government’s top functionaries to provide the details of all arbitration proceedings, both national and international, involving IPPs, including final decisions rendered in these proceedings and information on any ongoing (pending) arbitration cases, including the status and expected timelines for resolution.

It also sought information regarding any proceedings initiated for the termination of agreements with IPPs, including the grounds for initiation of such proceedings and the current status and outcomes, if any, of these proceedings.

The APTMA is also interested in information about build-operate-transfer (BOT) and build-own-operate-transfer (BOOT) power plants, including the names and locations of these projects, the terms and conditions of the BOT and BOOT agreements, and the current status and ownership details of these projects. The APTMA also placed the request with the chairperson of the SECP, asking for the details about the audited financial statements of IPPs (including balance sheet, income statement, cash flow statement, and notes to financial statements) from the date of commercial operation to the present date.

It also asked the SECP to provide any related management reports and audit reports along with other financial disclosures or statements filed with the SECP during this period.