Govt agrees to pay Rs24 bn to 8 IPPs

ISLAMABAD: The government on Thursday agreed before the Supreme Court to make payments to the tune of Rs24 billion to Independent Power Producers (IPPs).

According to IPPs, the government has granted approval for clearing dues of Rs24 billion in three monthly installments. The first installment of Rs8 billion will be made in August.

They said the guarantees were about to be expired for non-payment of dues by the government, so they went ahead and filed a petition in the Supreme Court in this regard.