CCOE approves recovery from Nishat Chunian
Also allows renegotiating deal with IPPs in light of NAB’s advice on Nishat case
ISLAMABAD:
The Cabinet Committee on energy (CCOE) on Thursday approved recovery of Rs8.36 billion from Nishat Chunian Power Ltd and renegotiating the deal with independent power producers (IPPs) under Power Policy 2002.
The Power Division had submitted a summary on examination, validation of process of IPPs agreement. The committee after detailed discussion approved the proposal that the agreements with IPPs under Power Policy 2002 finalised by the implementation committee be reviewed in the light of advice by the National Accountability Bureau (NAB) advice in the Nishat Chunian Power Ltd case.
Stocks roared ahead on Monday as optimism over economic recovery carried the rally into the second week with trade hovering over a billion shares mark, dealers said. Pakistan Stock Exchange’s .