Pakistan’s Ministry of Foreign Affairs (MoFA) has directed the Ministry of Finance and Power Division to address the payment concerns raised by Chinese power companies, considering it a potential obstacle to future energy collaboration between Pakistan and China.
As reported by Business Recorder, this issue, among others, was discussed during the recent visit of caretaker Prime Minister Anwaar-ul-Haq Kakar to China.
During the meetings with the Chinese power companies, the Private Power and Infrastructure Board (PPIB) expressed reservations to the State Bank of Pakistan (SBP) regarding power plants, including Chinese Independent Power Producers (IPPs), for not converting their payments from PKR into USD, amounting to $600 million.
This issue poses serious challenges for power producers, with the Government of Pakistan owing over Rs300 billion to Chinese power companies.
During the visit, Minister for Power Muhammad Ali met with the Vice Administrator for the Chinese National Energy Administration (NEA), raising the payment concerns.
Sources emphasize the urgency of settling dues promptly and streamlining future payment procedures to resolve long-pending issues related to the Revolving Account.
The Power Division has been instructed to clarify Pakistan’s stance on the Chinese proposal for the draft minutes of the next Joint Working Group (JWG) on Energy meeting.
Additionally, the division is urged to solidify Pakistan’s response to the Chinese proposal for a Memorandum of Understanding (MoU) on renewable energy, particularly regarding photovoltaic projects.
The Ministry of Foreign Affairs has directed the Power Division to provide clarity on the feasibility of the construction of the 300 magawatts Gwadar coal-fired power plant.Â
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