Power producers: CPPA-G makes payments prior to year end
- The Authority has made payments of Rs 205 billion to different power producers including government-owned power plants
ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has made payments of Rs 205 billion to different power producers, including government-owned power plants just two days before the end of 2023.
According to sources, Rs131 billion has been paid to government-owned power plants recently approved by the government whereas Rs 74 billion has been released to other power producers. Of Rs74 billion, Rs57 billion has recently been approved by the ECC on account of K-Electric subsidy and Rs17 billion came from operations of Discos.
However, an insider told BR that the balance of Hubco (RFO) and Kapco (gas/RLNG and RFO) stood at Rs53.888 billion after payments on December 29, 2023.
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The balance payments of IPPs such as Rouch, Fauji, Pak Gen Power, Lalpir, KEL and Saba amounted to Rs 23.025 billion.
The balance payments of IPPs established under 2002 policy as on December 29, 2023 was Rs 104.637 billion. These IPPs include M/s Engro Power (gas), Foundation Power (gas), Orient Power (gas/RLNG/HSD), Saif Power, Sapphire Electric, Halmore Power, AGL Power, Atlas Power, Nishat Power, Nishat Chunian and Liberty Tech.
The sources said balance of renewable energy producers stood at Rs 50.260 billion after payments of December 29, 2023. This implies that total remaining amount to IPPs including Hubco/Kapco stood at Rs 232.171 billion after December 29.
The balance amounts of IPPs including IPPs like Liberty Dharki Power, Uch (gas), Uch-II (gas), Zephyr power (wind), Three Gorges (hydel), Rs Laraib hydro power, Star hydropower and Mira power (hydropower) stood at Rs 191.725 billion.
The Cabinet approved an amount of Rs 89.860 billion, Rs 137.783 billion, Rs 64.089 billion and Rs 96.134 billion disbursed on June 4, 2021, November 29, 2021, January 6, 2022, June 30, 2022 and June 30, 2022 respectively according to the schedule approved by ECC and Ministry of Finance and State Bank of Pakistan as per the Master Agreements.
Copyright Business Recorder, 2023
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