Previo­us govts approv­ed return on invest­ment in dollar­s wherea­s invest­ors invest­ed in local curren­cyISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government and independent power producers (IPPs) are jointly reviewing the old power purchase agreements in a bid to rectify faults and turn the deals beneficial for both sides. Power Division Secretary Irfan Ali told the Senate Standing Committee on Power on Tuesday that the IPPs had agreed to review the agreements voluntarily for creating better conditions. It was told that the government had paid Rs664 billion to the IPPs in capacity charges in 2017-18. The standing committee was also informed that the IPPs invested in local currency but received profit in dollars. He said the guaranteed rate of return for the IPPs was 17%, but according to their balance sheets, they were receiving 40% return.

Source: The Express Tribune April 17, 2019 03:22 UTC