ISLAMABAD: Directorate General of Gas (Petroleum Division) has sought Power Division’s help for recovery of Rs 193 billion from WAPDA, IPPs and GPPs to avert international default of Pakistan State Oil (PSO) and Sui Northern Gas Pipeline Limited (SNGPL).
In a letter to Secretary Power Division, Accounts Officer (F&P) of Directorate General Gas, Shahid Zaman Wazir, has shared SNGPL’s self-explanatory letter of February 16, 2024 whereby SNGPL communicated that their outstanding dues against powers sector including WAPDA (Water and Power Development Authority), IPPs (Independent Power Producers) and GPPs (Government Power Producers) has been accumulated up to an alarming level of Rs. 193.340 billion.
According to Directorate General Gas, SNGPL has informed that the current state of affairs is detrimental for their sustainability and may jeopardize the overall financial structure of the Company. SNGPL has added that due to huge amount outstanding from power sector, they are facing grievous financial liquidity crisis and unable to discharge its commitments towards upstream gas suppliers.
ln order to keep the gas/RLNG supply chain intact and to avert any liquidity crunch to fuel suppliers, Power Division has been requested to clear outstanding amount on priority to avoid international default by PSO and PLL against RLNG supplies and also provide clear timelines. Ends
