The Central Power Purchasing Agency (CPPA) has made a payment of outstanding dues to Nishat Chunian Power Limited (PSX: NCPL), the company informed the main bourse on Thursday.
“CPPA has made payment of outstanding receivables to the Company, as agreed in the Amendment Agreement,” NCPL said in the stock filing.
The Company entered into a Power Purchase Agreement (PPA) with its sole customer, Central Power Purchasing Agency (Guarantee) Ltd (‘CPPA-G’) for twenty-five years which commenced from July 21, 2010.
NCPL agreed to convert its existing tariff agreement to ‘Hybrid Take and Pay’ model in December 2024 and further agreed to execute the amended power purchase agreement whereby the company was assured of full payment of outstanding receivables.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan