ISLAMABAD: The cabinet has given approval with retrospective effect to equity injection of Rs114 billion into two liquefied natural gas (LNG)-based power projects in Punjab.

The cabinet, in its recent meeting, was told that the government had invested Rs114 billion as cash development loan in National Power Parks Management Company on standard terms for a period of 20 years with five-year grace period.

Subsequently, with approval of the federal cabinet, a loan was acquired against the equity injection by the Pakistan Development Fund (PDF).

Accordingly, Rs64 billion was injected as equity on June 30, 2017 into National Power Parks for financing two LNG power generation plants which included 1,223-megawatt plant at Balloki and 1,230MW plant at Haveli Bahadur Shah.

Published in The Express Tribune, 16th May, 2018

https://tribune.com.pk/story/1711077/2-cabinet-approves-rs114b-equity-injection-power-projects/