Govt to pay Rs 161 billion to private power plants immediately

MG News | February 08, 2021 at 02:13 PM GMT+05:00

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February 8, 2021 (MLN): Federal Minister for Planning and Development, Asad Umar on Monday chaired a meeting of the Cabinet Energy Committee to discuss the payment of dues to Independent Power Purchasers (IPPs).

The meeting reached an agreement with 46 out of 47 IPPs, wherein preliminary approval was given to pay Rs 403 billion to IPPs, sources said. The final approval of dues will be taken by the Economic Coordination Committee (ECC) and then the Cabinet, sources added.

Moreover, the committee decided to pay Rs 161 billion to private power plants immediately, and the remaining in the next six months, Finance Ministry officials said.

Agreements with IPPs will save the government Rs 836 billion in 15 years, Finance Ministry added.

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