Govt to pay Rs 24 billion floating loans of IPPs

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Government has assured the Independent Power Plants (IPPs) that it will pay their outstanding dues in terms of floating loans worth Rs 24 billion in coming three months.
According to reports, the government has taken an initiative to get rid of floating loans in the energy sector and decided to pay outstanding dues of private powerhouses. Rs eight billion would be paid to IPPs in August as the first installment.
IPPs advisory committee said that the IPPs’ guarantee was nearly detained due to the non-payments of outstanding dues by the government, upon which the IPPs filed a petition against the government in the Supreme Court. The court directed the National Transmission and Dispatch Company (NTDC) to review the situation till July 13 and to decide on the payment of the outstanding amount of the IPPs up to July 25.
Under the direction of the SC, NTDC announced Rs 45 billion floating loan undisputed, IPPs advisory committee added.