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.
I am pleased to inform that the first payment transaction, approved by the Government of 40% to 20 IPPs amounting to Rs 89.2 bln have been completed in coordination with SBP and Power Division.
This shows our commitment to resolve this longstanding issue on a permanent basis.
— Tabish Gauhar (@TabishGauharPK) June 4, 2021
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.