A three-judge bench of the Lahore High Court directed the Water and Power Development Authority (WAPDA) on 18 May to pay Rs 1.5 ($0.034) a kWh to the Hub Power Company (Hubco), about half the price agreed in the power purchase agreement signed by the former government of Benazir Bhutto.
The move followed an earlier interim court order directing the State Bank of Pakistan to prevent Hubco from transferring money abroad.
The order was made after a consumer filed a private petition against the high electricity tariff. The court was due to take the case in a second hearing by a larger bench on 25 May.
A Hubco statement confirmed the court directive. A company official said the rate fixed by the court would barely be sufficient for purchasing fuel from Pakistan State Oil (see Cover Story).
You might also like...
Abu Dhabi makes major construction investments
25 April 2024
Saudi Arabia seeks K9 PPP project interest
25 April 2024
Kuwait reviews 1.1GW solar prequalifications
25 April 2024
LIVE WEBINAR: Abu Dhabi Oil & Gas 2024
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.