July 05, 2023 (MLN): The Government of Pakistan has made a significant payment of Rs142 billion to Independent Power Producers (IPPs) to settle outstanding dues on June 27, 2023.
The Economic Coordination Committee (ECC) of the cabinet on June 21, 2023, had approved Rs4bn in funding to be released on a monthly basis to IPPs.
The government had also paid Rs385bn to IPPs of PP 1994 and PP 2002 last year.
Port Qasim Electric Power Company Ltd (PQEPC), which runs a $1.9bn power plant of 1,320 megawatts on imported coal, had served a formal notice of payment default on the Central Power Purchasing Agency (CPPA) on May 31, 2023.
The company was paid Rs8.32bn.
Engro Powergen Thar Ltd, which operates a $995.4m power plant of 660MW on local coal was paid Rs4.31bn.
Engro Powergen Thar Ltd had earlier told the CPPA that it may shut down operations entirely because of a “severe liquidity crunch” that has made it challenging for the IPP to settle its liabilities with both lenders and suppliers.
National Power Parks Management Company Private Limited received the highest share from the Rs142bn total, with two payments totaling Rs22bn (Rs9bn and Rs13bn).
Similarly, China Power Hub Generation company (Pvt.) Ltd received Rs9.21bn, and Karachi Nuclear Power Plant-Unit-2 was paid Rs8.75bn.
Full breakup of payments:
| Company Name | 2023-06-27 |
|---|---|
| ACT Wind (Pvt) Limited | 40 |
| AJ Power (Private) Ltd. | 10 |
| Appolo Solar Development Pakistan Limited | 257 |
| Artistic Energy (Pvt.) Limited | 75 |
| Atlas Power Limited | 2,700 |
| Attock Gen Limited | 2,750 |
| Best Green Energy Pakistan Limited | 137 |
| Chanar Energy Limited | 15 |
| China Power Hub Generation company (Pvt.) Ltd | 9,210 |
| Chiniot Power Limited | 350 |
| Crest Energy Pakistan Limited | 184 |
| Daral Khwar HPP | 100 |
| Engro Powergen Qadirpur Limited | 1,000 |
| Engro Powergen Thar (Pvt) Limited | 4,310 |
| Fauji Kabirwala Power Company Ltd. | 500 |
| FFC Energy Limited | 100 |
| Foundation Power Company Daharki Ltd. | 2,500 |
| Foundation Wind Energy-I Limited | 350 |
| Foundation Wind Energy-II (Pvt.) Limited | 350 |
| Gul Ahmed Wind Power Ltd | 400 |
| Halmore Power Generation Company Limited | 1,600 |
| Hamza Sugar Mills Limited | 20 |
| Harappa Solar (Pvt) Limited | 15 |
| Hawa Energy (Private) Limited | 50 |
| Huaneng Shandong Ruyi Energy (Pvt) Ltd | 10,004 |
| Hydrochina Dawood Power (Private) Limited | 295 |
| JDW Sugar Mills Ltd. | 20 |
| JDW Sugar Mills Ltd. | 70 |
| Jhimpir Power (Private) Limited | 50 |
| Karachi Nuclear Power Plant-Unit-2 | 8,751 |
| Karachi Nuclear Power Plant-Unit-3 | 2,668 |
| Karot Power Company (Pvt.) Limited | 631 |
| Kohinoor Energy Ltd. | 800 |
| Kot Addu Power Company Ltd. | 4,250 |
| Lalpir Power (Private) Limited | 2,000 |
| Laraib Energy Limited | 125 |
| Liberty Daharki Power Limited | 1,500 |
| Liberty Power Tech Limited | 2,050 |
| Lucky Electric Power Company Limited | 5,500 |
| Master Wind Energy Limited | 50 |
| Metro Power Company Ltd | 50 |
| Narowal Energy Limited | 2,500 |
| National Power Parks Management Company Private Limited | 9,000 |
| National Power Parks Management Company Private Limited | 13,000 |
| Neelum Jhelum Hydropower Company (Pvt.) Ltd. | 2,200 |
| Nishat Chunian Power Limited | 1,600 |
| Nishat Power Limited | 2,000 |
| Orient Power Company (Private) Limited | 1,600 |
| Pak Gen Power Limited | 2,500 |
| Pakhtunkhwa Energy Development Organization (Malakand-III) | 250 |
| Port Qasim Electric Power Company (Pvt.) Limited | 8,317 |
| Punjab Thermal Power Private Limited | 750 |
| Quaid E Azam Solar Power Pvt Ltd | 50 |
| Quaid-e-Azam Thermal Power (Pvt) Limited | 7,000 |
| Rousch Pak Power Ltd. | 1,750 |
| RYK Mills Limited | 20 |
| Sachal Energy Development (Private) Limited | 139 |
| Saif Power Limited | 2,250 |
| Sapphire Electric Company Limited | 2,500 |
| Sapphire Wind Power Company Limited | 15 |
| Star Hydro Power Limited | 100 |
| Tenaga Generasi Limited | 600 |
| Thal Industries Corporation Ltd | 50 |
| ThalNova Power Thar (Pvt.) Ltd | 1,302 |
| Thar Coal Block-1 Power Generation Company (Pvt) Limited | 3,325 |
| Thar Energy Limited | 2,716 |
| The Hub Power Company Limited | 2,000 |
| Three Gorges First Wind Farm Pakistan (Private) Limited | 25 |
| Three Gorges Second Wind Farm Pakistan Limited | 98 |
| Three Gorges Third Wind Farm Pakistan (Private) Limited | 110 |
| Tricon Boston Consulting Corporation (Private) Limited | 25 |
| Tricon Boston Consulting Corporation (Private) Limited | 25 |
| Tricon Boston Consulting Corporation (Private) Limited | 25 |
| Uch Power Ltd. | 1,000 |
| Uch-II Power (Pvt.) Limited | 7,000 |
| UEP Wind Power (Pvt)Ltd | 149 |
| Yunus Energy Limited | 100 |
| Zephyr Power (Pvt.) Limited | 40 |
| Zorlu Enerji Pakistan Limited | 25 |
| Total | 141,993 |
Amount in USD Million
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Posted on: 2023-07-05T10:21:35+05:00
