LDs: PPIB for out-of-court settlement with IPPs

The Private Power & Infrastructure Board (PPIB) has reportedly proposed to the Cabinet Committee on Energy (CCoE) that an out of court settlement be agreed with Independent Power Producers (IPPs) on Liquidated Damages (LDs), well informed sources told Business Recorder.

Giving the details, the sources said, the ECC while approving the summary of June 28, 2016 in respect of the interim gas supply agreement pertaining to M/s Fauji Kabirwala and Rousch Power (Pakistan) Limited, approved the principle that the period during which the power plant is not available due to non-availability of fuel be treated as Other Force Majeure Event (OFME).

Published in Business Recorder, 8th March, 2018

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