Pakgen Power Limited (PSX: PKGP) has officially terminated its power purchase agreement with the federal government, the company informed the main bourse on Tuesday.
“Pursuant to the approval of the shareholders of Pakgen Power Limited in their Extraordinary General Meeting held on January 27, 2025, the Company has formally executed the Negotiated Settlement Agreement to terminate the Power Purchase Agreement, Implementation Agreement and Guarantee,” the company said in a stock filing.
The principal activities of the Company are to own, operate and maintain a fuel-fired power station having gross capacity of 365 MW in Mehmood Kot, Muzaffargarh, Punjab, Pakistan.