Karachi February 27 2025: Hub Power received PKR 36.5 billion against outstanding receivables from CPPA(G) under the Negotiated Settlement Agreement, states company in its filing.
“Pursuant to negotiations with Task Force, the PPA of Hub power station prematurely expired effective Oct 1, 2024” the statement added.
Moreover, all outstanding obligations of the Company towards PSO have been assumed by CPPA(G) / GoP.
Subsequently, negotiations were held with the Task Force for NEL in which it has been agreed to revise the tariff of NEL and to convert the existing tariff to ‘Hybrid Take and Pay’ model effective November 1, 2024. However, PPA Amendment Agreement is yet to be signed.
