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Payment of outstanding dues to IPPs

The National Transmission and Despatch Company (NTDC) has admitted the claimed receivables of the eight independent power producers (IPPs) and sought time for consultation with the ministries of water and power and finance, sources said.

The NTDC on the directives of the Supreme Court held a meeting with eight IPPs on Monday to resolve the issue of their outstanding dues.

The meeting was headed by Managing Director National Transmission and Despatch Company Naveed Ismail and joined by a legal team of Private Power Infrastructure Board (PPIB), where it was told to the council of IPPs that a final decision regarding their payments would be taken after due consultation with the ministries of water and power and finance.

“We have told the meeting that we are unable to generate power because we don’t have money to buy fuel, thus the penalty imposition by the government in this regard is illogical,” said a representative of the council of IPPs.

The Supreme Court has directed the NTDC to resolve the issue before the 25th of this month against the writ petition submitted by eight IPPs over their outstanding dues of Rs61.401 billion the government has defaulted on. A group of eight IPPs moved the SC against not receiving their Rs61.401 billion from the government despite invoking the sovereign guarantee.

This amount includes the capacity payment of Rs19.379 billion, energy payment of Rs37.846 billion and other payments of Rs4.176 billion.

The council of eight IIPs that filed the petition included Liberty Tech, Orient Power, Atlas Power, Nishat Power, Nishat Chunian, Saif Power, Halmore Power, and Sapphire Electric for payment of the outstanding dues of Rs11.131 billion, Rs4.121 billion, Rs10.478 billion, Rs9.661 billion, Rs10.899 billion, Rs5.722 billion, Rs2.415 billion and Rs6.974 billion, respectively.

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