Govt to pay Rs50 billion to Chinese IPPs

govt Chinese IPPs

Islamabad: The federal government has decided to clear the due payments to the Chinese independent power producers (IPPs) set up under the China-Pakistan Economic Corridor (CPEC).

The decision was taken on Friday in a meeting presided over by Federal Minister for Finance and Revenue Miftah Ismail.

The meeting was also attended by all Pakistani and Chinese stakeholders, including chief executives of Chinese IPPs.

During the meeting, FM Miftah Ismail reiterated the government’s commitment to providing all kinds of facilities to Chinese investors in the country.

Outstanding payments to the Chinese IPPs in Pakistan and other hurdles faced by them were also discussed in the meeting. The power division assured the meeting that they had been meeting financial requirements on account of debt payment and fuel in the past and would honour these commitments in the future as well.

According to a statement, the CEOs of Chinese IPPs expressed satisfaction over addressing and resolving their issues.

Among others, the meeting was attended by Federal Minister for Power, Khurram Dastgir Khan, Special Assistants to Prime Minister Dr Muhammad Jehanzeb Khan, Tariq Fatmi SAPM, Zafaruddin Mehmood, Secretary Power, CEOs of Chinese Independent Power Producers (IPPs) and a senior officer from Finance and Power Divisions, the statement added.

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