Cabinet says no to pay Rs 730 million to three IPPs

Pakistan

Cabinet says no to pay Rs 730 million to three IPPs

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The federal cabinet has refused to pay Rs 730 million as compensation to three IPPs.

15 March,2012 08:25 am

The federal government has refused to pay Rs 730 million the three Independent Power Producers (IPPs) on the recommendation of Ministry of Water and Power.According to sources, the ICC meeting under Finance Minister Hafeez Sheikh has asked the government to provide extra gas to these three power plants or pay Rs 730 million as compensation.However, the cabinet did not agree with the decision of ICC. One of the three IPPs is belonged to Pakistan Muslim League-like minded senator Anwar Saifullah and his brother Saleem Saifullah.