SC to announce verdict over IPPs dues on Aug 15
ISLAMABAD: The Supreme Court on Friday said that it would announce its decision on Aug 15 pertaining to the cases filed by the eight independent power producers (IPPs) seeking clearance of their dues, DawnNews reported.
The verdict would be announced after analysing responses submitted by the ministry of water and power and other private companies, added the court.
A three member bench, chaired by Chief Justice Iftikhar Muhammad Chaudhry, heard the case.
Ministry of Water and power and other private electric companies submitted their responses in the apex court.
The chief justice remarked that the government will have to give concrete recommendations pertaining to the payments to the IPPs.
The SC adjourned the hearing till Aug 15 and declared that verdict would be announced then.
Earlier on July 4, eight IPPs moved the apex court seeking a direction for the government to clear circular debt in the energy sector.
“Clearing a total of Rs61.4 billion outstanding dues will help ensure continued availability of electricity from the IPPs,” the petitions had said.
The petitions had been filed by Liberty Tech, Orient Power, Atlas Power Limited, Nishat Power, Nishat Chunian, Saif Power, Halmore Power and Sapphire Electric for the payment of outstanding dues of Rs11.131 billion, Rs4.121 billion, Rs10.478 billion, Rs9.661 billion, Rs10.899 billion, Rs5.722 billion, Rs2.415 billion and Rs6.974 billion, respectively.