ISLAMABAD (PEN) : The Finance Division of Pakistan has authorized the Power Division to withdraw Rs4 billion from the Pakistan Energy Revolving Account (PERA) to pay Independent Power Producers (IPPs) under CPEC for January 2024, following a directive from the Economic Coordination Committee. This move aims to manage the power sector’s financial obligations amidst a significant growth in expenses. Caretaker Minister Muhammad Ali confirmed clearing 88% of outstanding payments to Chinese IPPs but concerns arise from delays, notably PQEPC, with receivables of Rs88.38 billion. The company warns of potential operational suspension and urges prompt resolution to prevent defaults and ensure continuous power generation.
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