The CPEC authority abolished by PM Shahbaz
As a result of Chinese power producers' non-clearance of their Rs300 billion dues, the new government decided to abolish the China-Pakistan Economic Corridor ( CPEC ) Authority.
A meeting revealed that Chinese investors had failed to pay dues on over 37% of the CPEC power projects, or 1,980 megawatts.
The meeting was informed that the total receivables of the 10 Chinese IPPs have now reached Rs300 billion, of which Rs270 billion is the overdue portion, resulting in a total receivables value of Rs300 billion.
One of the three imported coal-fired power plants, Hubco, Sahiwal and Port Qasim, have closed one of their two units due to the non-availability of fuel for their operations, a former senior official who was responsible for the CPEC.
In a similar manner, the establishment ...