Double Click 728 x 90
Double Click 900 x 250

The government has paid IPPs the first instalment of nearly Rs 89 billion

Muazzam AhmedWeb Editor

05th Jun, 2021. 02:25 pm
Double Click 160 x 600
government has paid IPPs

Following Prime Minister Imran Khan’s directions, the government has paid IPPs. The Finance Division has announced that 20 IPPs have been paid Rs89.2 billion as the first instalment of the payment.

The State Bank of Pakistan, Power Division, and other related departments finalized the payment to the power producers.

Tabish Gauhar, Special Assistant to the Prime Minister on Power and Petroleum, said in a Twitter post that the first payment transaction, a 40% payment to 20 IPPs worth Rs 89.2 billion sanctioned by the government, had been completed in coordination with SBP and the Power Division.

He further said that that the government has paid IPPs and the move demonstrates the government’s willingness to permanently resolve the long-standing issue. The Economic Coordination Committee (ECC) had already approved the payment of the first instalment of Rs 89 billion to 35 out of a total of 47 Independent Power Producers (IPPs) in May.

The ECC, which gathered in Islamabad on Wednesday under the chairmanship of Finance Minister Shaukat Tarin, cleared Rs89 billion for 35 IPPs, while payment to the remaining 12 IPPs may be delayed due to NAB investigations.

In consultation with Ehsaas and the Finance Division, it had also approved subsidies for electricity consumers during phase I.

Double Click 300 x 250

Download BOL News App for latest news