Islamabad: The Cabinet gave retrospective approval for an equity injection of PKR 114 billion into two liquefied natural gas (LNG)-based power projects in Punjab, according to a news report. In a recent meeting, the Cabinet had been informed that the government had invested PKR 114 billion in the National Power Parks Management Company as a cash development loan on standard terms for 20 years, with a 5-year grace period. This investment was approved by the cabinet, and a loan was acquired against the injection by the Pakistan Development Fund (PDF).
Under this, PKR 64 billion was invested into National Power Parks on June 30, 2017 for the financing of two LNG power generation plants, a 1,223 MW one at Balloki, and a 1,230 MW one at Haveli Bahadur Shah. Another PKR 50 billion was added on December 29, 2017, bringing the total to PKR 114 billion. These injections were retrospectively approved after thorough discussion in the Cabinet.
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