After the recent withdrawal of their sovereign guarantee encashment demand, the Independent Power Producers (IPPs) are in line to meet with the Ministry of Water and Power today and hold talks in regards to the settlement of payment issues. The meeting will be held in Islamabad and will be attended by Ministry of Water and Power Secretary Yousad Naseem Khokhar, Power and Finance Joint Secretary Zargham Eshaq Khan, Private Power and Infrastructure Board managing director, National Transmission and Despatch Company (NTDC) managing director and Central Power Purchase Agency (CPPA) chief financial officer.
According to Khan, this meeting being held between IPP’s and the government is a good omen, which will help in resolving outstanding payment issues and to address grievances of the IPPs. He also mentioned that the rising power shortage was a major issue and increase in production could be instrumental in avoiding a crisis.
Previously, the IPPs had the sovereign guarantee encashment demand on the undertaking of the government to resolve all outstanding issues linked to outstanding payments worth Rs48b out of an accumulated amount of Rs414b in March. This was done on account of a meeting last week with the Secretary of Ministry of Water and Power.
