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10 IPPs may wind up their operations** Pepco served with default notice on Rs42b payment
ISLAMABAD: In an alarming development that is likely to worsen the power crisis in Pakistan, 10 Independent Power Producers (IPPs) have served notices on the government against Pepco for defaulting on payment of Rs42 billion, a senior official at the Ministry of Water and Power said here on Wednesday.
The IPPs will invoke sovereign guarantees if payments were not made after a 30-day notice period, their representative confirmed, saying they had served preliminary notices on the government for non-payment of dues.
He said government has been told the 10 IPPs will close down their operations if their dues were not paid till April 19.
These notices have been served at a time when violent protests are being staged against prolonged power outages, particularly in central Punjab, the hub of economic activity.
**The government, the official disclosed, has withheld normal daily payments (NDP) of some of these IPPs owing to which they are now on the verge of closing down their power plants.
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The official said people who are currently facing 8-10 hour load shedding on average across the country (16-20 hours in some parts of Punjab), will have to endure more on account of impending closure of 10 IPPs.
The arrears of all 28 IPPs have swelled to over $3.67 billion but only 10 IPPs have sought $466.67 million till April 19.
It’s going down with every passing day and no one seems to have any clue as to how to arrest the decline. Leave alone the entire economy, this government has not been able to handle even just one aspect of economy — that is energy. Whever the prime minister opens his mouth, he speaks of respecting courts, politics of coalition, completing 5-year term and pledging yet more sacrifices for the country. And president — what to talk about him? He is in a different world altogether. Jeeye Bhutto!!!
Aap iss issue ko mairi nazar say daikhain to sub theek lagay ga :cobra:
Pahlay hum politician apna pait bharain kah inn IPPs ko payment karain ?
Agar yah chalay bhi gaiay to kia hoga ? 100 ya 200 factories band ho jaien gi,
40 ya 50 hazaar banda bay rooz gar ho jay ga
Hum Wadairoon / Jageerdaroon ko iss say kia Hamari tou zameenain hain aur inn par kaam karnay wallay kammi kameen jo hamaray isharoon par nachtay hain
This the crux of the power problem in Pakistan. Every one wants electricity but no one is willing to pay for it. We want free electricity!
People who are using are paying their bills, even paying for the thieves (FAC) but the government is not willing to pay its own bills, who is at fault?
Mushtri hoshyar bash, the government seems to pin their failure on resolving the loadshedding crisis on scrapping of the rental power station agreements. Remember we were only getting 120 Mw out of our required 13000 to 15000 Mw and that too at exorbitant rates.
According to Dunya News the Auditor General believes that they believe the RPP's have been paid more amount then announced, as about 11 billion Rupees have been paid to them as a part of 'subsidies'.
