IPPs defer decision for one day

Posted on June 15, 2011. Filed under: IPPs |

The four IPPs — Nishat Chunian, Nishat Power, Liberty and Atlas Power – have deferred their decision to call sovereign guarantees for one day on an assurance by the authorities that Rs10 billion outstanding against the National Transmission and Dispatch Company (NTDC) would be released by Wednesday.

The IPPs had earlier had decided to serve final notice to call the guarantee on Tuesday for recovery of their outstanding power dues.

“We have decided to defer the notice for one day as government has assured us of payment of our dues,” said a senior executive of one of the IPPs. He said the IPPs, having a combined capacity of producing 800MW, would call the sovereign guarantee on Wednesday if the government did not fulfil its commitment.




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