Rousch (Pakistan) Power Limited (RPPL), a subsidiary of Power Management Company (Private) Limited, has terminated its power purchase agreement with the federal government.
The Power Management Company (Private) Limited is a subsidiary company of Altern Energy Limited (PSX: ALTN).\
“It is hereby informed that the subsidiary of the Company, Rousch (Pakistan) Power Limited (RPPL), as per terms of its Negotiated Settlement Agreement (NSA), has terminated its Power Purchase Agreement (PPA) entered into with the CPPA, Implementation Agreement entered into with the President of Islamic Republic of Pakistan on behalf of the Government of Pakistan (IA), and the Guarantee issued by the Government of Pakistan,” a stock filing by ALTN stated on Monday.
As per terms of the NSA, RPPL has received all the agreed amounts from CPPA and has handed over the Complex to the designated entity of the Government of Pakistan namely National Power Parks Management Company Limited on 31st December 2024, the filing added.
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jaan bachi so laakho paay
Cancelation of power purchase is agreement is a healthy sign in the interest of poor nation. Already, these companies earned a lot from below poverty line public. Others must come forward and do the same to save nation already entered stoneage.
They’ve made enough money without making enough electricity already. Something may have been underlying. Nobody gives 2 cents about the people or their misery.