Kohinoor Energy receives final installment of Rs2.98bn from CPPA

MG News | November 30, 2021 at 09:35 AM GMT+05:00

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November 30, 2021(MLN): Kohinoor Energy Limited (PSX: KOHE) has received the final installment of Rs 2.98 billion from the Government of Pakistan through Central Power Purchasing Agency Limited (CPPA) in the form of one-third cash, one-third Government Ijara Sukuk, and one-third Pakistan Investment Bonds (PIBs), company filing on the PSX revealed today.

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 note, Kohinoor Energy had received Rs1.99bn from CPPA on June 7, 2021, as the first installment of 40% of receivable at the cut-off date of November 30, 2020.

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