ISLAMABAD: As the circular debt has touched Rs 656 billion, six Independent Power Producers (IPPs) have served notices of non-payment to Central Power Purchasing Agency Guaranteed (CPPA-G), well-informed sources in PPIB told Business Recorder.

“We have received copies of notices of non-payment sent to Central Power Purchasing Agency Guaranteed (CPPA-G) under respective Power Purchase Agreements (PPAs) namely M/s Atlas Power Limited, Hubco- Narowal Project, Liberty Power Tech Ltd, Nishat Chunian Power Ltd, Orient Power Company, and Saif Power Limited,” the sources added

According to sources, through these notices, it has been revealed that the power purchaser failed to make payments to these IPPs as required under the governing PPAs.

Published in Business Recorder, 7th August, 2018

https://epaper.brecorder.com/2018/08/07/22-page/732150-news.html