Port Qasim Electric Power Company Limited (PQEPC) has warned it may shut down its 1,320 MW coal power plant unless the government clears its outstanding dues. The warning came from CEO Liang Yongbin, who addressed Finance Minister Muhammad Aurangzeb and other relevant officials.
The 1,320 MW Port Qasim coal-fired power plant was built under the China-Pakistan Economic Corridor (CPEC) initiative to provide clean, reliable, and affordable electricity to the national grid, as well as help reduce circular debt, all under the direction of the Government of Pakistan.
Although PQEPC acknowledges the efforts of the government and the Central Power Purchasing Agency-Guaranteed (CPPA-G) in organizing payments to independent power producers (IPPs), the company stated that as of September 27, 2024, the total amount due for the project stands at Rs. 88.2 billion (equivalent to $317 million), with payments delayed by over six months and likely to increase further.
