The Private Power & Infrastructure Board (PPIB) has asked the State Bank of Pakistan (SBP) to provide $758 million to pay back investors who financed power projects mostly under the China-Pakistan Economic Corridor (CPEC).
This was requested by Managing Director PPIB Shah Jahan Mirza in a letter to SBP Governor Jameel Ahmed a few days before Prime Minister Shehbaz Sharif’s visit to China, reported Business Recorder.
The PPIB MD shared his concerns regarding Independent Power Producers (IPPs) who had complained about delays in getting the central bank’s approval to convert Pakistani Rupees to US Dollars. He said such delays are preventing IPPs from paying back to lenders, coal suppliers, and contractors. The power producers have asked PPIB to help resolve these issues to keep their projects running smoothly.
The following table summarizes the pending payments for several IPPs in their respective currency components:
| IPP | Pending Dues (USD/CNY/GBP/EUR) | |||
|---|---|---|---|---|
| China Hub Power | $24,867,288 | CNY 3,008,701 | ||
| Port Qasim Electric Power Ltd | $132,253,295 | |||
| Huaneng Shandong (Sahiwal) | $317,667,142 | CNY 92,311,593 | ||
| Engro Powergen Thar | $77,963,601 | € 1,098,558 | ||
| Thar Coal Block-1 Power Generation Co. Ltd | $117,174,258 | |||
| Pak-Matiari Transmission Co. Ltd | $3,600,000 | CNY 101,400 | ||
| Thal Nova Power Thar Limited | $30,585 | |||
| Karot Power Limited | $19,686 | CNY 317,721 | ||
| Attock Power Gen Limited | € 3,481,468 | |||
| Uch Power (Pvt.) Limited | $17,133,765 | |||
| Uch-II Power (Pvt.) | $11,302,732 | |||
| Rousch Power Limited | $9,555,504 | € 110,776 | ||
| Hawa Power Limited | $3,764,509 | |||
| Jhimpir Power Limited | $18,941,209 | |||
| AJ Power Limited | $212,586 | |||
| FFC Energy Limited | € 222,352 | |||
| Three Gorges First Wind Farm Pakistan (Pvt.) Ltd | CNY 380,050 | |||
| Metro Power Company Ltd | $898,001 | CNY 898,001 | £ 4,172 | |
| Gul Ahmed Wind Power Limited | $2,089,724 | |||
| Tenega Generasi Limited | $23,232 | |||
| Hydro China Dawood Power Pvt. Ltd | $564,670 | |||
| Three Gorges Second Wind Farm Pak Ltd | CNY 10,739 | |||
| Tricon Boston Consulting Corporation Pvt. Ltd-A | € 11,048 | £ 2,296 | ||
| Tricon Boston Consulting Corporation Pvt. Ltd-B | € 11,048 | £ 2,296 | ||
| Tricon Boston Consulting Corporation Pvt. Ltd-C | € 11,048 | £ 2,296 | ||
| DIN Energy Ltd | $925,284 | |||
The post PPIB Urges State Bank to Release $758 Million for IPP Payments appeared first on ProPakistani.
