How power sector circular debt cleared: payments of Rs 341.9 billion, Rs 138 billion made

The government has stated that it made a cash payment of Rs 341.9 billion and a non-cash payment of Rs 138 billion for settlement of Rs 480 billion circular debt of power sector after coming to power in 2013.
Independent Power Producers (IPPs) have also charged Rs 37 billion on account of interest from the government owing to their inability to make timely payment, official documents of Ministry of Water and Power presented to the last meeting of Senate Standing Committee on Finance on settlement of circular debt reveal.
A copy of the document obtained by Business Recorder reveals that cash payment was made to 26 power producers as well as SNGPL for Genco-II, SSGC for Genco-I-II, Mari Gas for Genco-II as well Pakistan Petroleum Limited (PPL) for Genco-II and Pakistan State Oil for Genco-I &II.
Non-cash settlement of Rs 138 billion was included for Chashma Nuclear I&II Wapda Hydel and Miscellaneous for NTDC and Genco.
The cash payments made to power producers/ IPPs were: Rs 75 billion to Hubco, Rs 41 billion to KAPCO, Rs 6 billion to AES (Pak Gen), Rs 4.546 billion to AES (Lalpir) Power Project, Rs 3.504 billion to KEL (Kohinor Energy Limited), Rs 9. 906 billion to Liberty Power Plant, Rs 19.261 billion to UCH (gas).
According to Ministry of Water and Power, Rousch Power Limited was made a payment of Rs 8.687 billion, Fauji Rs 5.1billion, Habibullah Rs 2.540 billion, Altern Rs 270 million; AGL power Rs 19.336 billion.
Hubco Narowal received Rs 17.397 billion, Atlas power Rs 5.4 billion, Nishat power Rs 7.080 billion and Nishat Chunian Rs 6.860 billion. The Liberty Tech was made Rs 6.817 billion payment, Orient Power Rs 1.307 billion, Saif power Rs 4.902 billion, Sapphire electric power Rs 4.208 billion, Halmore Power was made a payment of Rs 2.52 billion.
The government made Rs 8.974 billion payment to Engro Power for clearance of circular debt, foundation power Rs 7.074 billion, Shydo Power Rs 1.159 billion and Laraib Energy Rs 105 million.
Sui Northern Gas Pipeline Limited (SNGPL) was made a payment of Rs 18.996 billion, Sui Southern Gas Pipeline Limited Rs 2.901 billion and Rs 586 million, Mari Gas Rs 9.358 billion, Pakistan Petroleum Limited (PPL) Rs 13.843 billion and Pakistan State Oil Rs 6.130 billion for Genco-I-II-III).
Non-cash settlement, according to Ministry of Water and Power was Rs 22.964 billion to Chashma (Nuclear) I & II, Rs 90 billion to Water and Power Development Authority (WAPDA) and Rs 25.104 billion for miscellaneous (NTDV/Genco).