ISLAMABAD: Power Division has reportedly sought an additional Rs 200 billion from Finance Division for smooth power supply to consumers till September 2018, well-informed sources told Business Recorder.

Power Division, sources said, had placed this demand before the Prime Minister’s Advisor on Finance, Revenue and Economic Affairs, Dr. Miftah Ismail a few days earlier. The Finance Division will arrange this amount from commercial banks.

Finance Division has recently released Rs 54 billion to the energy sector against total approved amount of Rs 80 billion. The major chunk of Rs 54 billion has been paid to the PSO directly or indirectly.

The Independent Power Producers (IPPs) which are selling electricity to the Central Power Purchasing Agency (CPPA) are seen in the corridors of Power Division, knocking on the doors of high officials for payment of remainder of the approved amount of Rs 26 billion. The officials are hoping that a portion of Rs 26 billion would be released to the power sector.

Published in Business Recorder, 17th April, 2018

https://epaper.brecorder.com/2018/04/17/1-page/711036-news.html