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Govt settles Rs142bn dues with IPPs

Industrial leaders push for CTBCM regime for direct power purchases
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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