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Revised power tariff By Khalid Mustafa ISLAMABAD: In a major breakthrough, all the 47 independent power producers, who had signed MOUs in August 2020 paving way for discounted tariff of Rs836 billion in the next 10-12 years, have now initialed legally-binding Master Agreements. The process got completed when the last batch of six IPPs, seeking resolution of the issue of excess profit of Rs53 billion through local arbitration tribunal, also initialed the Master Agreements on Monday night, a senior official privy to the development told The News. "Now the ECC and Federal Cabinet will approve t...

Issue of Rs53b excess profits made by 6 IPPs National February 1, 2021 ISLAMABAD: The government is currently weighing option to form local arbitration court, based on three local judges of the Supreme Court to resolve the issue of excess profits of Rs53 billion, allegedly minted by 6 important IPPs and the Attorney General of Pakistan (AGP) will update the Federal Cabinet to this effect. ‘And if the Federal Cabinet, that meets tomorrow (Tuesday), gives go-ahead, then the process to constitute the local arbitration court will be expedited,’ a senior official privy to the development tol...

National January 16, 2021 ISLAMABAD: With more powers to Special Assistant to PM on Power, Tabish Gauhar, the negotiations with the IPPs with regard to converting MoUs into the amended Power Purchase Agreements (PPAs) seemed to have moved towards conclusion. “The IPPs and government negotiating team are set to initialise the amended PPAs, sometime in next week, however, the proper signing would be held when the BoDs of IPPs ratify them and the Federal Cabinet would also approve the initials done by the government’s team,” one of top officials at the Petroleum Division told The News. �...

Govt, solar IPPs reach accord for bringing down power tariff Top Story January 10, 2021 ISLAMABAD: The process towards signing the Master Agreements by independent power producers (IPPs) that earlier signed memorandums of understanding (MoUs) in August 2020 has begun as the government negotiation team and solar-based IPPs have reached an agreement. To this effect, one solar IPP namely Harappa Solar Power Private Limited (HSL) having a capacity to generate 18MW electricity here on Saturday initiated the agreement with Central Power Purchasing Agency (CPPA). However, the management of Harappa...

Govt, IPPs accord to lower power tariff Top Story January 10, 2021 ISLAMABAD: The process towards signing the Master Agreements by independent power producers (IPPs) that earlier signed memorandums of understanding (MoUs) in August 2020 has begun as the government negotiation team and solar-based IPPs have reached an agreement. To this effect, one solar IPP namely Harappa Solar Power Private Limited (HSL) having a capacity to generate 18MW electricity here on Saturday initiated the agreement with Central Power Purchasing Agency (CPPA). However, the management of Harappa Solar Power Private ...