Govt disburses Rs62.75bn to IPPs
MG News | October 05, 2023 at 03:32 PM GMT+05:00
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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