Another independent power producer, Attock General Limited, has announced its readiness to renegotiate the terms of its power production agreement.
The company has voluntarily expressed its willingness to discuss changes to the existing contract conditions with the Ministry of Energy. Attock General Limited has reached out to the Power Division of the Ministry of Energy with a formal letter.
In this communication, the company reaffirmed its commitment to promoting a stable and prosperous Pakistan. They have proposed a strategic revision of the public-private partnership agreement on a unilateral and voluntary basis.
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Earlier, Liberty Power had offered to renegotiate its contract with the government.
The company proposed shifting from dollar-based payments to transactions entirely in Pakistani rupees. Moreover, Liberty Power is prepared to reduce its profit margins to alleviate the country’s financial strain.
Shahryar Chishti, Chairman of Pak Asia Investment, Liberty Power’s parent company, announced this proposal at a press conference. He highlighted that this initiative is part of their commitment to supporting Pakistan during these challenging economic times.
