January 12, 2024 (MLN): To address the persistent issue of circular debt in the energy sector, the Privatization Commission, in consultation with the Power and Petroleum authorities, has decided the exclude the Nandipur and Guddu power plants from the privatization list, according to sources. 

Simultaneously, the government is settling the outstanding payment of Rs100 billion for these power plants, currently parked in the Pakistan State Oil (PSO) through Re-Gasified Liquefied Natural Gas (RLNG) supply. 

This settlement will be achieved by allowing PSO to acquire controlling stakes in both the Nandipur and Guddu power plants.

These power plants are considered among the best in the country in terms of efficiency. 

The Rs100bn gas circular debt settlement is expected to bring respite to the energy sector, which has been grappling with financial challenges, especially PSO.

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Posted on: 2024-01-12T11:39:24+05:00