Ex-UK judge to head tribunal to settle IPPs issue tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
U-turn on IPPs to cause hefty loss tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
THE ECC decision to pay the first tranche of outstanding dues of one set of IPPs, and further delay the payments of unpaid bills of another is discriminatory given that the government has signed identical agreements revising the terms of their original power purchasing agreements. The government had renegotiated contracts with 47 IPPs set up between 1990 and 2013, which will potentially save it over Rs800bn in future payments to them and slow down fresh build-up in the power sector’s circular debt. In return, it had agreed to pay them their unpaid bills of Rs403bn in two instalments. But the first payment was delayed after NAB decided to investigate the 2002 IPPs. Now the ECC wants to clear the dues of the pre-2002 projects before the end of this month, holding back payment of the 2002 IPPs till the NAB inquiries are concluded. It may take years before NAB completes the probe, preventing both government and consumers from reaping the benefits of the deal, in addition to damaging Pa