Re: Load shedding
Zardari calls emergency meeting over energy crisis | DAWN.COM
http://dawncompk.files.wordpress.com/2012/05/zardari-reuters670x350.jpg?w=670&h=350
Re: Load shedding
Hum ne mana ke taghaful na karo ge lekin
garmi se mar jaenge log election hone tak 
Re: Load shedding
mujhe is she’r par ek mazaaHiya she’r yaad aa gayaa magar yahaN likh nahiiN saktaa kiuN k she’r ‘non-veg’ hai 
lol
Re: Load shedding
IPPs threatened to exercise the sovereign default option. The process is way too shyt long.
Also, the sovereign guarantee to IPPs doesn’t mean that state of Pakistan is defaulted, their is Federal Agency known as “Center Power Purchasing Agency” which is responsible for buying and paying IPPs. But the catch is CPPA is public/private partnership so technically its a default of a single company not state itself.
Re: Load shedding
CPPA is a part of NTDC (which is government owned power transmission utility), and any amount CPPA pays to the IPP’s is released by the government. If CPPA fails to pay the amount will CPPA default alone or will it be taken as GoP defaulting?
As far as the sovereign guarantee is concerned according to the following article in sept 2011, the IPP’s invoked sovereign guarantees as the amount to be paid had reached phenomenal amounts. Government asked them to withdraw the guarantees and promised to pay their amount by Oct 2011 but nothing happened. In 2012 (maybe March/April) IPPs gave a 30 days period to the govt for paying their dues, but that period also passed. Then they gave them 10 more days but no payment was made, now according to the IPPs default has been reached (government or CPPA thats another issue). They have now sent a legal notice to make the payments within three days which also ended today and I have not seen any news that they have made any payment.
Anyhow default or not if the government will not pay the dues of IPP’s we will not have any electricity.
IPPs to take legal course if payment not made | Business Recorder
As of today, the receivables from the power purchaser for the IPP industry amount to almost Rs 232 billion.In September 2011, nine IPPs invoked the GoP guarantee since the overdue amounts to IPPs had reached phenomenal proportions and IPPs had already utilised all of their working capital limits and plant closures looked imminent.
GoP asked the IPPs to withdraw their call on the guarantees and in turn offered an interim arrangement as a “Settlement Agreement” whereby it proposed that as long as power purchaser did not clear the overdue amounts, it could not impose penalties on the IPPs for not being available, and the IPPs were to run for as much as they were being paid.IPPAC argues that the GoP agreed to clear all dues by October 15, 2011.
In order to facilitate the GoP, the IPPs accepted this arrangement and withdrew their notices.
However, the GoP defaulted even on the settlement agreement and did not clear the dues.
Subsequently, IPPs were advised that the GoP wished to further extend the interim arrangement but it will process it through the ECC.
In good faith, the IPPs continued to run the plants and did not invoke guarantees.The Council claimed that in March the ECC delegated the matter to a committee.
Meanwhile, the power purchaser issued notices of penalties being imposed on all the IPPs.
"This came as a rude shock to the IPPs which were left with no choice but to once again call the GoP guarantees.
IPPs gave a 30 day notice to the power purchaser to pay, followed by a 10 day notice to GoP as per the agreements but there has been no development," IPPAC maintained.This implies that as of today, GoP has committed a sovereign default for the first time in the history.
Now IPPs have issued a legal notice to GoP to pay by Thursday May 10th, 2012 failing which the IPPs will have to follow a legal course.
This sovereign default can lead to: (i) further downgrading of the credit ratings of Pakistan; (ii) International lending agencies suspending all lending; (iii) foreign banks not accepting or confirming Letters of Credits of local banks; (iv)foreign investment being discouraged and investors take a negative view; (v) local banks, which have an exposure of Rs 120 billion to the sector, taking serious hits and some of the smaller banks possibly going under; (vi) local business houses in the sector being put on CIB for a default caused by GoP; and (vii) further reduction in generation on account of complete shutdown of these plants.
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this pathetic government trying their best to become Shaheed 
yaah loog alaltay talallon par paisay kharach kar rahay hain leekan payment daitay hoy jaan ja rahi hay inn bay ghairatoon key 
Re: Load shedding
According to PM, President and Juhla every thing is fine :cobra:
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Re: Load shedding
how unfortunate we are, after four years he realizes the severe energy crisis and calls for an emergency meeting???
nothing will be done, just empty promises!
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^ not empty promises. He will solve the crisis once again. and call another emergency meeting when it happens next time.
Zardari sb mahaan hayn.
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Pakistanion 
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Hahahahahhahahahahahahah 
hahahahhahahahahaha
hahahahahahahah
Aur Sunao 
Zinda Ho
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From
Govt & Wapda 
aab bus yahi waqat rah gia tha 
Re: Load shedding
They have now sent a legal notice to make the payments within three days which also ended today and I have not seen any news that they have made any payment.
Anyhow default or not if the government will not pay the dues of IPP's we will not have any electricity.
Oops.....was that what the money was for? We used it to pay for Gillani and Cos trip to UK....oh well.
Re: Load shedding
how unfortunate we are, after four years he realizes the severe energy crisis and calls for an emergency meeting??? nothing will be done, just empty promises!
He is doing this not to resolve the crisis but he realises that there is an election around the corner and trying to fool the public.
Re: Load shedding
He is doing this not to resolve the crisis but he realises that there is an election around the corner and trying to fool the public.
election gimmicks :(
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jab naveed qamar ko gali sunai daiti hai...you guyes think he stops and look back as if someone is calling him????
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Main aaj subah he Multan say idhar phuncha hoon :cobra:
Janab udhar Shaam 8 bajay say Subah 8 bajay tuk light naheen jati hay ta kah hum khawab-e-khargosh kay mazay loot sakain 
Especially in my area there was only 6 hour load shedding in day time & I’ve checked that before this crises it was only 4 hours 
Geo Gailani 
Re: Load shedding
Oops.....was that what the money was for? We used it to pay for Gillani and Cos trip to UK....oh well.
We know how they use the taxpayer money, maal e muft dil e bay reham.
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Hum ney maana ke sharm na karo ge lekin
aur kitna maal banana hey election hone tak!
Re: Load shedding
The load shedding in Lahore these days is over 8 hours.
Re: Load shedding
^ You mean ONLY 8 hours?
