Chinese power companies accuse Pakistan govt of defaulting on pay
New Delhi, June 10: At least two Chinese power companies have served a default notice to Pakistan’s Central Power Purchasing Agency (CPPA) over billions of dollars in dues. The Chinese independent power producers (IPPs) say that by not paying billions of rupees of dues, it is Islamabad that has defaulted.
The Port Qasim Electric Power Company Ltd (PQEPC), owned by China’s Sinohydro Resources Ltd and Qatar’s Al Mirqab Capital Ltd, claims that the CPPA owes it Rs 77.3 billion or $263.5 million in unpaid dues for power. The company says that as the deadline of May 31 for the principal payment of $73.6m has passed, the Government of Pakistan has defaulted.
