The Central Power Purchasing Authority (CPPA) has disbursed nearly Rs142 billion to Independent Power Plants (IPPs) in order to reduce the stock of circular debt. The outstanding payment was made on June 27.
The development is in line with the International Monetary Fund’s (IMF) recommendation of reforms and progress in the energy sector in a recently signed staff-level agreement for an SBA facility amounting to $3 billion, said Rao Aamir Ali at brokerage house Arif Habib Limited (AHL) in a report on Wednesday.
Controlling the bulging circular debt, especially, in the power sector has been one of the key demands of the Washington-based lender.
“The authorities’ program also includes ongoing efforts to strengthen the viability of the energy sector (including through a timely FY24 annual rebasing), improving SOE governance, and strengthening the public investment management framework, including for projects needed to build resilience to climate change,” the IMF stated in its press release announcing the staff-level agreement on Friday.
Here is the list of IPPs:
| Company Name | Amount |
|---|---|
| ACT Wind (Pvt) Limited | Rs40mn |
| AJ Power (Private) Ltd. | Rs10mn |
| Appolo Solar Development Pakistan Limited | Rs257mn |
| Artistic Energy (Pvt.) Limited | Rs75mn |
| Atlas Power Limited | Rs2700mn |
| Attock Gen Limited | Rs2750mn |
| Best Green Energy Pakistan Limited | Rs137mn |
| Chanar Energy Limited | Rs15mn |
| China Power Hub Generation company (Pvt.) Ltd | Rs9210mn |
| Chiniot Power Limited | Rs350mn |
| Crest Energy Pakistan Limited | Rs184mn |
| Daral Khwar HPP | Rs100mn |
| Engro Powergen Qadirpur Limited | Rs1000mn |
| Engro Powergen Thar (Pvt) Limited | Rs4310mn |
| Fauji Kabirwala Power Company Ltd. | Rs500mn |
| FFC Energy Limited | Rs100mn |
| Foundation Power Company Daharki Ltd. | Rs2500mn |
| Foundation Wind Energy-I Limited | Rs350mn |
| Foundation Wind Energy-II (Pvt.) Limited | Rs350mn |
| Gul Ahmed Wind Power Ltd | Rs400mn |
| Halmore Power Generation Company Limited | Rs1600mn |
| Hamza Sugar Mills Limited | Rs20mn |
| Harappa Solar (Pvt) Limited | Rs15mn |
| Hawa Energy (Private) Limited | Rs50mn |
| Huaneng Shandong Ruyi Energy (Pvt) Ltd | Rs10004mn |
| Hydrochina Dawood Power (Private) Limited | Rs295mn |
| JDW Sugar Mills Ltd. | Rs20mn |
| JDW Sugar Mills Ltd. | Rs70mn |
| Jhimpir Power (Private) Limited | Rs50mn |
| Karachi Nuclear Power Plant-Unit-2 | Rs8750.63mn |
| Karachi Nuclear Power Plant-Unit-3 | Rs2668.49mn |
| Karot Power Company (Pvt.) Limited | Rs631mn |
| Kohinoor Energy Ltd. | Rs800mn |
| Kot Addu Power Company Ltd. | Rs4250mn |
| Lalpir Power (Private) Limited | Rs2000mn |
| Laraib Energy Limited | Rs125mn |
| Liberty Daharki Power Limited | Rs1500mn |
| Liberty Power Tech Limited. | Rs2050mn |
| Lucky Electric Power Company Limited | Rs5500mn |
| Master Wind Energy Limited | Rs50mn |
| Metro Power Company Ltd | Rs50mn |
| Narowal Energy Limited | Rs2500mn |
| National Power Parks Management Company Private Limited | Rs9000mn |
| National Power Parks Management Company Private Limited | Rs13000mn |
| Neelum Jhelum Hydropower Company (Pvt.) Ltd. | Rs2200mn |
| Nishat Chunian Power Limited | Rs1600mn |
| Nishat Power Limited | Rs2000mn |
| Orient Power Company (Private) Limited | Rs1600mn |
| Pak Gen Power Limited | Rs2500mn |
| Pakhtunkhwa Energy Development Organization (Malakand-III) | Rs250mn |
| Port Qasim Electric Power Company (Pvt.) Limited | Rs8317mn |
| Punjab Thermal Power Private Limited | Rs750mn |
| Quaid E Azam Solar Power Pvt Ltd | Rs50mn |
| Quaid-e-Azam Thermal Power (Pvt) Limited | Rs7000mn |
| Rousch Pak Power Ltd. | Rs1750mn |
| RYK Mills Limited | Rs20mn |
| Sachal Energy Development (Private) Limited | Rs139mn |
| Saif Power Limited | Rs2250mn |
| Sapphire Electric Company Limited | Rs2500mn |
| Sapphire Wind Power Company Limited | Rs15mn |
| Star Hydro Power Limited | Rs100mn |
| Tenaga Generasi Limited | Rs600mn |
| Thal Industries Corporation Ltd | Rs50mn |
| ThalNova Power Thar (Pvt.) Ltd | Rs1302mn |
| Thar Coal Block-1 Power Generation Company (Pvt) Limited | Rs3325mn |
| Thar Energy Limited | Rs2716mn |
| The Hub Power Company Limited | Rs2000mn |
| Three Gorges First Wind Farm Pakistan (Private) Limited | Rs25mn |
| Three Gorges Second Wind Farm Pakistan Limited | Rs98mn |
| Three Gorges Third Wind Farm Pakistan (Private) Limited | Rs110mn |
| Tricon Boston Consulting Corporation (Private) Limited | Rs25mn |
| Tricon Boston Consulting Corporation (Private) Limited | Rs25mn |
| Tricon Boston Consulting Corporation (Private) Limited | Rs25mn |
| Uch Power Ltd. | Rs1000mn |
| Uch-II Power (Pvt.) Limited | Rs7000mn |
| UEP Wind Power (Pvt)Ltd | Rs149mn |
| Yunus Energy Limited | Rs100mn |
| Zephyr Power (Pvt.) Limited | Rs40mn |
| Zorlu Enerji Pakistan Limited. | Rs25mn |
| Total | Rs141.99bn |
Background
As per the Ministry of Energy’s monthly report, during 11MFY23, the stock of circular debt increased by Rs394 billion to Rs2,646 billion, which translates into a monthly average Rs35.8 billion, compared to a decline of Rs27 billion during the same period last year.
Comments
Comments are closed.