The Private Power & Infrastructure Board (PPIB) has requested the State Bank of Pakistan (SBP) to release $758 million to repay investors who funded power projects, primarily under the China-Pakistan Economic Corridor (CPEC).
Managing Director of PPIB, Shah Jahan Mirza, made this request in a letter to SBP Governor Jameel Ahmed shortly before Prime Minister Shehbaz Sharif’s visit to China, according to a report by Business Recorder.
Mirza expressed concerns about delays faced by Independent Power Producers (IPPs) in obtaining the central bank’s approval to convert Pakistani Rupees to US Dollars. These delays are hindering IPPs from repaying lenders, coal suppliers, and contractors. The power producers have sought PPIB’s assistance to resolve these issues and ensure the smooth operation of their projects.
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 PPIB MD urged prompt action to prevent disruptions in ongoing projects and ensure timely payments to all stakeholders.
