KAPCO gets Rs59.4bn from power purchaser

MG News | November 30, 2021 at 09:34 AM GMT+05:00

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November 30, 2021 (MLN): Kot Addu Power Company Limited (KAPCO) on November 29, 2021, has received Rs59.401 billion from the power purchaser in the form of one-third cash, one-third government Ijara Sukuk, and one-third Pakistan Investment Bonds (PIBs), the company filing on PSX said on Tuesday.

This constitutes the second installment of 60% of receivables at the cut-off date of November 30, 2020, the notice added.

On November 24, the federal cabinet had approved the second tranche payment amounting to Rs134.783bn to the independent power producers (IPPs) as per the payment mechanism.

To recall, the company had obtained the first tranche of Rs39.602bn from the power purchaser on June 7, 2021.

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