NTDC mulls proposals to recover Rs714m from Iranian firm - N

NTDC mulls proposals to recover Rs714m from Iranian firm - Newspaper


Although the award was announced last year, the NTDC management did not follow up the case to recover the amount from the firm. — AFP/File
LAHORE: In a bid to recover Rs714 million from a Tehran-based firm, the Nati­onal Transmission and Disp­a­tch Company (NTDC) is considering various proposals including one about taking up the issue with the Iranian government and requesting it to adjust the amount in the payments made by Pakistan for the procurement of electricity from the neighbouring country.
Talking to
Dawn, NTDC Managing Director Muha­mmad Ayub on Tuesday said the company had reopened the case after it was highlighted in the media recently. “I do not know why this was ignored although it involves a huge amount that we need to recover from the Iranian firm under a decision announced by the Paris-based Interna­tional Chamber of Commerce (ICC) in a commercial arbitration last year (in April),” he said.

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