Govt disburses Rs62.75bn to IPPs

MG News | October 05, 2023 at 03:32 PM GMT+05:00

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October 05, 2023 (MLN): The government has disbursed Rs62.75 billion to 17 Independent Power Producers (IPPs) with the objective of lowering the circular debt of the sector.

Among the IPPs, National Power Parks Management Company Private Limited received Rs14.5 billion, Thar Coal Block-1 Power Generation Company (Pvt) Limited received Rs5.75bn, Karachi Nuclear Power Plant-Unit-2 received Rs3.8bn, Quaid-e-Azam Thermal Power (Pvt) Limited received Rs3.75bn and Engro Powergen Thar (Pvt) Limited received Rs3.6bn.

Huaneng Shandong Ruyi Energy (Pvt) Ltd, Port Qasim Electric Power Company (Pvt.) Limited, and Karot Power Company (Pvt) Ltd each received a disbursement of Rs3.8bn.

Payments were made to various other IPPs, including Karachi Nuclear Power Plant-Unit-3, China Power Hub Generation company (Pvt.) Ltd, Lucky Electric Power Company Limited, Thar Energy Limited, Punjab Thermal Power Private Limited, Uch Power (Pvt.) Limited, Uch-II Power (Pvt.) Limited and ThalNova Power Thar (Pvt.) Ltd.

It is pertinent to note that out of the total disbursement of Rs62.75bn, more than 50% of the payments have been made to 5 IPPs alone.

Disbursements to IPPs in an ascending order	Amount (Rs in million)
National Power Parks Management Company Private Limited	14,500
Thar Coal Block-1 Power Generation Company (Pvt) Limited	5,750
Huaneng Shandong Ruyi Energy (Pvt) Ltd	4,600
Port Qasim Electric Power Company (Pvt.) Limited	4,600
Karot Power Company (Pvt) Ltd	4,600
Karachi Nuclear Power Plant-Unit-2	3,800
Quaid-e-Azam Thermal Power (Pvt) Limited	3,750
Engro Powergen Thar (Pvt) Limited	3,600
Karachi Nuclear Power Plant-Unit-3	3,200
China Power Hub Generation Company (Pvt.) Ltd	3,100
Lucky Electric Power Company Limited	2,400
Thar Energy Limited	2,400
Punjab Thermal Power Private Limited	1,750
Uch Power (Pvt.) Limited	1,700
Uch-II Power (Pvt.) Limited	1,700
ThalNova Power Thar (Pvt.) Ltd	1,300
Total	62,750

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