KARACHI: Some independent power producers (IPPs) have summoned emergency meetings to discuss the development as the government prepares to terminate important agreements early this month.
Hub Power Company Limited (Hubco) notified in a public filing on Wednesday that an urgent meeting of its board of directors is scheduled for this Thursday, or today.
The conditions for the early termination of the company’s fuel supply agreement, power purchase agreement, and implementation agreement, as well as the related guarantee, will be examined by the board. Originally, it was planned for these agreements to end in March 2027.
The Prime Minister’s Office-created task group of the government and multiple IPPs, including Hubco, have participated in the negotiations.
In a same vein, Lalpir Power Limited also announced an emergency board of directors meeting to the Pakistan Stock Exchange on Wednesday. The conditions of the early termination of the power purchase agreement, implementation agreement, and related guarantee, which followed negotiations between the government and several IPPs, will also be discussed at this conference.
In other business news, to satisfy the rising demand for seafood from consumers, Big Bird Foods Ltd. (BBFL) is expanding its product line by introducing finger fish and raw fish fillets.
The Pakistani fish and seafood industry presently has an annual demand of over 700,000 tons, according to BBFL’s stock filing on Wednesday.
