Independent power producers enjoyed tax breaks of Rs1.2tr since 1990

ISLAMABAD: At a time when taxpayers are being crushed under high tax rates, it has come to the fore that the Independent Power Producers (IPPs) received substantial tax breaks to the tune of Rs1.217 trillion from the mid-1990s to 2023-24, Dawn has learned from official sources.

The tax exemption for IPPs goes above the capacity payments, which are expected to be in the range of Rs2.091tr in the current fiscal year. These IPPs are owned by 40 influential families with a direct or indirect relationship to those in the power corridors.