Islamabad June 22 2022: Economic Coordination Committee (ECC) approved PKR 96.133 billion to Power Division for payment to the IPPs established under power policy 2002 as a second installment (60% payment).
The meeting of the Economic Coordination Committee (ECC) of the Cabinet is chaired by Federal Minister for Finance and Revenue Mr. Miftah Ismail at Finance Division, today.
The mode of payment will be 33.3% cash, 33.3% SUKUK, and 33.3% floating PIBs.
Among the listed IPPs, Narowal Energy which is 100% owned subsidiary of Hub Power Company Limited will receive the highest amount of PKR 9.7bn followed by Nishat Power Limited, which will receive PKR 8.6bn. While Saif Power Limited and Engro Powergen Qadirpur Limited will be given PKR 5.7bn and PKR 4.9bn, respectively.
Federal Minister for Planning, Development and Special Initiatives Mr. Ahsan Iqbal, Federal Minister for National Food Security and Research Chaudhary Tariq Bashir Cheema, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Federal Secretaries, Chairman FBR and senior officers attended the meeting.
