International courts: Rs14bn fines payable to IPPs, Senate told

Federal Minister for Power Division, Sardar Awais Ahmed Khan Leghari on Tuesday admitted that Pakistan has a track record of losing arbitration at international courts due to which there are Rs14 billion fines payable to independent power producers (IPPs).

He said that the government had to bear a huge loss due to arbitration as contacts were signed without open tender and bidding, as mega projects were doled out without following the laid down rules which resulted in loss of billions of rupees to national kitty.