LAHORE: Chief Justice of Pakistan Mian Saqib Nisar on Saturday took suo moto notice over excessive payments made to Independent Power Producers (IPPs) in connection with circular debt.
The chief justice issued notices to ten IPPs and sought report within three days. The chief justice took the notice while hearing different cases at the Supreme Court Lahore Registry.
The chief justice observed that the court had been notified that excessive payments were made to IPPs in connection with circular debt and apparently it was a matter of $ 1.5 billion.
The IPPs, which are approximately 50% of the power producers within the industry, have the verified and audited overdue amount to approximately Rs248 billion as of July 15, 2018, in respect of 21 members of the Independent Power Producers Association (IPPA).