Punjab Chief Minister Bhagwant Mann announced that the state government has purchased a 540-megawatt private thermal power plant at Goindwal Sahib for ₹1,080 crore. The power plant, previously owned by GVK Power, is the first private power plant to be bought by the government in the state.
Rs100b power project loan signed
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The prime objective of the construction relief and amnesty scheme is to revive the coronavirus-hit national economy and create job opportunities, especially for daily-wage earners. PHOTO: FILE
LAHORE:
Punjab government has signed a financing agreement worth Rs100 billion with a consortium of six commercial banks for setting up a 1,236 megawatts (MW) thermal power plant.
Punjab Chief Minister Sardar Usman Buzdar chaired the agreement signing ceremony held at a local hotel on Thursday. The agreement was signed between the Punjab Thermal Power (Pvt) Ltd – a company owned by the government through the provincial Energy Department and a consortium of six banks.
Top Story
December 18, 2020
LAHORE: Punjab Chief Minister Sardar Usman Buzdar chaired a ceremony of signing Rs100 billion financing agreement between the Punjab Thermal Power (Pvt) Ltd of 1263 megawatt capacity and a consortium of six banks at a hotel Thursday to generate 10 billion units every year. Provincial Finance Secretary Abdullah Sumbal signed the agreement.
Addressing the ceremony, the chief minister termed the agreement the largest sovereign guarantee in country’s history and congratulated provincial ministers Hashim Jawan Bakht, Dr Akhtar Malik and others. GSA and PPA agreements have been signed despite slackness in business activities due to corona onslaught, he maintained. The Punjab Thermal Power Plant will be speedily completed and electricity would be generated by the end of 2021, he added.
National
December 18, 2020
LAHORE: Punjab Chief Minister Sardar Usman Buzdar chaired a ceremony of signing Rs100 billion financing agreement between the Punjab Thermal Power (Pvt) Ltd of 1263 megawatt capacity and a consortium of six banks at a hotel Thursday to generate 10 billion units every year. Provincial Finance Secretary Abdullah Sumbal signed the agreement.
Addressing the ceremony, the chief minister termed the agreement the largest sovereign guarantee in country’s history and congratulated provincial ministers Hashim Jawan Bakht, Dr Akhtar Malik and others. GSA and PPA agreements have been signed despite slackness in business activities due to corona onslaught, he maintained. The Punjab Thermal Power Plant will be speedily completed and electricity would be generated by the end of 2021, he added.