The power sector scandal investigation report after the sugar and flour scandal revealed that the national exchequer suffered more than Rs 100 billion annually.
The first 278-page report of the country’s history on the power sector has been prepared by the 9-member committee, which deals with power plants that have been declared unfair.
Inquiry report submitted to the Prime Minister has termed the loss of national exchequer as a result of tariffs, fuel consumption, guaranteed profit in dollars.
The committee, in the report, termed the contracts made with power plants unfair, saying that after 1994, IPPs owners received Rs 350 billion unfairly.
The Inquiry Report of Power sector scandal stated that power plants continued to generate 50 to 70 percent of their annual profits, as opposed to a 15 percent profit. According to the report, the cost of each power plant was increased by Rs 2 billion to Rs 15 billion.
Sources say that the inquiry committee also recommended the committee to abolish the capacitive payout formula and recover Rs 100 billion based on “tech and pay” with IPPs owners.