Now we have to Pay for the Imrani incompetence - Korean firm goes to court

Rajarawal111

Prime Minister (20k+ posts)

Korean firm moves arbitration court against Pakistan​


ISLAMABAD: In the wake of no required action by PTI government to resolve the issue of inclusion of escalated cost in true-up tariff, Korean investors have moved London Court of International Arbitration (LCIA) against the government of Pakistan seeking $94 million (Rs19.6 billion) as compensation.

The Korean investors pleaded National Transmission & Despatch Company (NTDC) failed to evacuate electricity from 147MW Patrind Hydropower Project for at least six months from the COD of the project and also the cost incurred on construction of a point from where the electricity was to be delivered to the national grid, one of the top men of Power Division confirmed to The News.

According to the officials, Power Division under Federal Minister for Power Khurram Dastgir smelt a rate and decided to fix the racket of unscrupulous officials of NTDC, CPPA and Power Division responsible for not evacuating electricity from the project on time and raising no objection to a Korean company which set up a delivery point that NTDC didn’t desire as it wanted to evacuate electricity from another point.

However, the delivery point, which was not desired by NTDC, was constructed by a Korean company – Star Hydro Power Limited (SHPL) – caused an increase in the cost of project not reflected in the true-up of the electricity being generated by the Patrind Hydropower Project.

The official said investigation shows NTDC didn’t raise any objection when the Korean company constructed the electricity delivery point which the state-owned entity didn’t want.

NTDC is currently dealing with transmission projects worth Rs421 billion.

“We have removed a joint secretary who allegedly developed vested interests with NTDC for various projects”, the official said.

“There are reports the same racket will launch some officials who will represent NTDC in LCIA and will give technical input in the case not up to the mark ensuring the government of Pakistan loses the case and in return they will manage some “commission” in British pounds,” senior officials in Power Division confided to The News. “We will keep a vigilant eye on the case proceedings”, they said.

When Shehbaz Sharif, they said, took charge as Prime Minister, this matter was brought before him. He constituted a committee to find out ways for out-of-court settlement arguing that record of the government shows it gets defeated in arbitration most of the time.

This scribe sent questions to NTDC, PPIB (Private Power Infrastructure Board) asking as to why the Korean company which built Patrind Hydropower Power plant moved LCIA and why NTDC failed to evacuate electricity on time. Both the departments did not respond.

To a question, the official said SHPL is an Independent Power Producer (IPP). It has invested in, and developed 147MW run-of-river Patrind Hydropower Project on River Kunhar near village Patrind, District Muzaffarabad of Azad Jammu & Kashmir (AJ&K). The project is generating electricity for Pakistan's National Grid. The project has been developed under the government's Policy for Power Generation Projects 2002 on BOOT basis with a concession period of 30 years. SHPL was incorporated in April 2006 as a public limited company to develop and implement the project. Korea Water Resource Corporation (K-water) and Daewoo Engineering & Construction Company are the sponsors of SHPL and have acquired 100pc shareholding in the company through Singapore-based investment vehicle, KDS Hydro.

Patrind Hydro Power Project is operational since November 2017. Hydropower projects, under 2002 policy read with Nepra’s Mechanism for Determination of Tariff Hydropower Projects, have three-tier cost-plus tariff determination process i.e. Feasibility Stage, EPC Stage and COD Stage true-up.

The project company, through CPPA-G, submitted a petition before Nepra’s determination of COD stage tariff with a total cost of $420.127 million. Nepra, however, approved the COD stage tariff on July 29, 2020 with a total cost of $ 326.261 million. The company filed a review petition before Nepra on August 28, 2020 which is pending till date.

Meanwhile, the company served a notice of dispute dated March 31, 2021 on GOP through PPIB under Section 16.1 of the GOP IA on November 30, 2011.

The company alleged the tariff determinations are discriminatory and a breach of Section 12.2 of the GOP IA. A committee has been constituted comprising representatives from Power Division, Law Division, IDU AG Office, MoF, MoFA, CPPAG, NTDC and PPIB to proceed in the matter.

Attorney General (AG) Office is finalising a future course of action. Pakistan now wants out-of-court settlement as the authorities think the case of NTDC and PPIB is weak.

 
Advertisement

Nice2MU

Prime Minister (20k+ posts)
نیوز کی خبر ہو اور کسی لعنتی پٹواری نے پوسٹ کی ہو تو پڑھنے پہ وقت ضائع نہ کرے۔۔

یہ بکواس اخبار بکواس پہلے صفحے پہ چھاپے نگے اور تردید اندر کے صفحے پہ وہ بھی اتنا چھوٹا کہ نظر نہ ائے۔۔

عمران کے خلاف یہی حرامزگیاں انہوں نے 90 کی دہائی میں بھی بہت کی ہیں۔
 

Husaink

Chief Minister (5k+ posts)
Another bullshit news planted by geo news of Pmln kanjars

ویسے تمہارا یہ ایک پرانا طریقہ واردات ہے کہیں سے منہ اور سر کے بغیر انگریزی کا قصہ چار درویش کا کاپی پیسٹ لے آتے ہو اور آخر میں سب کچھ لے کر عمران خان کے بلے پر چڑھ جاتے ہو کم از کرم دہاڑی تو حلال کی لگا لیا کرو
😂😂
 

eccentric

MPA (400+ posts)

Korean firm moves arbitration court against Pakistan​


ISLAMABAD: In the wake of no required action by PTI government to resolve the issue of inclusion of escalated cost in true-up tariff, Korean investors have moved London Court of International Arbitration (LCIA) against the government of Pakistan seeking $94 million (Rs19.6 billion) as compensation.

The Korean investors pleaded National Transmission & Despatch Company (NTDC) failed to evacuate electricity from 147MW Patrind Hydropower Project for at least six months from the COD of the project and also the cost incurred on construction of a point from where the electricity was to be delivered to the national grid, one of the top men of Power Division confirmed to The News.

According to the officials, Power Division under Federal Minister for Power Khurram Dastgir smelt a rate and decided to fix the racket of unscrupulous officials of NTDC, CPPA and Power Division responsible for not evacuating electricity from the project on time and raising no objection to a Korean company which set up a delivery point that NTDC didn’t desire as it wanted to evacuate electricity from another point.

However, the delivery point, which was not desired by NTDC, was constructed by a Korean company – Star Hydro Power Limited (SHPL) – caused an increase in the cost of project not reflected in the true-up of the electricity being generated by the Patrind Hydropower Project.

The official said investigation shows NTDC didn’t raise any objection when the Korean company constructed the electricity delivery point which the state-owned entity didn’t want.

NTDC is currently dealing with transmission projects worth Rs421 billion.

“We have removed a joint secretary who allegedly developed vested interests with NTDC for various projects”, the official said.

“There are reports the same racket will launch some officials who will represent NTDC in LCIA and will give technical input in the case not up to the mark ensuring the government of Pakistan loses the case and in return they will manage some “commission” in British pounds,” senior officials in Power Division confided to The News. “We will keep a vigilant eye on the case proceedings”, they said.

When Shehbaz Sharif, they said, took charge as Prime Minister, this matter was brought before him. He constituted a committee to find out ways for out-of-court settlement arguing that record of the government shows it gets defeated in arbitration most of the time.

This scribe sent questions to NTDC, PPIB (Private Power Infrastructure Board) asking as to why the Korean company which built Patrind Hydropower Power plant moved LCIA and why NTDC failed to evacuate electricity on time. Both the departments did not respond.

To a question, the official said SHPL is an Independent Power Producer (IPP). It has invested in, and developed 147MW run-of-river Patrind Hydropower Project on River Kunhar near village Patrind, District Muzaffarabad of Azad Jammu & Kashmir (AJ&K). The project is generating electricity for Pakistan's National Grid. The project has been developed under the government's Policy for Power Generation Projects 2002 on BOOT basis with a concession period of 30 years. SHPL was incorporated in April 2006 as a public limited company to develop and implement the project. Korea Water Resource Corporation (K-water) and Daewoo Engineering & Construction Company are the sponsors of SHPL and have acquired 100pc shareholding in the company through Singapore-based investment vehicle, KDS Hydro.

Patrind Hydro Power Project is operational since November 2017. Hydropower projects, under 2002 policy read with Nepra’s Mechanism for Determination of Tariff Hydropower Projects, have three-tier cost-plus tariff determination process i.e. Feasibility Stage, EPC Stage and COD Stage true-up.

The project company, through CPPA-G, submitted a petition before Nepra’s determination of COD stage tariff with a total cost of $420.127 million. Nepra, however, approved the COD stage tariff on July 29, 2020 with a total cost of $ 326.261 million. The company filed a review petition before Nepra on August 28, 2020 which is pending till date.

Meanwhile, the company served a notice of dispute dated March 31, 2021 on GOP through PPIB under Section 16.1 of the GOP IA on November 30, 2011.

The company alleged the tariff determinations are discriminatory and a breach of Section 12.2 of the GOP IA. A committee has been constituted comprising representatives from Power Division, Law Division, IDU AG Office, MoF, MoFA, CPPAG, NTDC and PPIB to proceed in the matter.

Attorney General (AG) Office is finalising a future course of action. Pakistan now wants out-of-court settlement as the authorities think the case of NTDC and PPIB is weak.

Gutter news company, filthy news. Bhangi Patwari's wage hunters 🤣
 

wasiqjaved

Chief Minister (5k+ posts)

Korean firm moves arbitration court against Pakistan​


ISLAMABAD: In the wake of no required action by PTI government to ...
PDM (14 political parties) + "Neutral" Establishment is in power since 2 months and 16 days. If Korean firm have moved towards Arbitration Court against Pakistan today, then it's incompetence of players under current setup.
 

miafridi

Prime Minister (20k+ posts)
The official said investigation shows NTDC didn’t raise any objection when the Korean company constructed the electricity delivery point which the state-owned entity didn’t want.

Devil is in the details. The project is operational since June 2017 when PMLN was in power.

According to the above statement this delivery point should never have been constructed but PMLN govt seemed to either be sleeping or they took their commission and will now take their commission in the out of court settlement as well.
 

miafridi

Prime Minister (20k+ posts)
Another bullshit news planted by geo news of Pmln kanjars


نیوز کی خبر ہو اور کسی لعنتی پٹواری نے پوسٹ کی ہو تو پڑھنے پہ وقت ضائع نہ کرے۔۔

یہ بکواس اخبار بکواس پہلے صفحے پہ چھاپے نگے اور تردید اندر کے صفحے پہ وہ بھی اتنا چھوٹا کہ نظر نہ ائے۔۔

عمران کے خلاف یہی حرامزگیاں انہوں نے 90 کی دہائی میں بھی بہت کی ہیں۔

agaya subah subha Noonie chamoona........copy paste ka expert

ویسے تمہارا یہ ایک پرانا طریقہ واردات ہے کہیں سے منہ اور سر کے بغیر انگریزی کا قصہ چار درویش کا کاپی پیسٹ لے آتے ہو اور آخر میں سب کچھ لے کر عمران خان کے بلے پر چڑھ جاتے ہو کم از کرم دہاڑی تو حلال کی لگا لیا کرو
😂😂

Patwari aur itna brain work.... Sir Biryani khaaie aur moj uraaiiee.

Gutter news company, filthy news. Bhangi Patwari's wage hunters 🤣

PDM (14 political parties) + "Neutral" Establishment is in power since 2 months and 16 days. If Korean firm have moved towards Arbitration Court against Pakistan today, then it's incompetence of players under current setup.

Devil is in the details. The project is operational since June 2017 when PMLN was in power.

According to the above statement this delivery point should never have been constructed but PMLN govt seemed to either be sleeping or they took their commission for letting something be constructed which wasn't even required. And now no wonder the Korean company has moved to courts in presence of corrupt Beggars who would try to take their commission from the out of court settlement as well.
 

Faraqlit

Senator (1k+ posts)

Korean firm moves arbitration court against Pakistan​


ISLAMABAD: In the wake of no required action by PTI government to resolve the issue of inclusion of escalated cost in true-up tariff, Korean investors have moved London Court of International Arbitration (LCIA) against the government of Pakistan seeking $94 million (Rs19.6 billion) as compensation.

The Korean investors pleaded National Transmission & Despatch Company (NTDC) failed to evacuate electricity from 147MW Patrind Hydropower Project for at least six months from the COD of the project and also the cost incurred on construction of a point from where the electricity was to be delivered to the national grid, one of the top men of Power Division confirmed to The News.

According to the officials, Power Division under Federal Minister for Power Khurram Dastgir smelt a rate and decided to fix the racket of unscrupulous officials of NTDC, CPPA and Power Division responsible for not evacuating electricity from the project on time and raising no objection to a Korean company which set up a delivery point that NTDC didn’t desire as it wanted to evacuate electricity from another point.

However, the delivery point, which was not desired by NTDC, was constructed by a Korean company – Star Hydro Power Limited (SHPL) – caused an increase in the cost of project not reflected in the true-up of the electricity being generated by the Patrind Hydropower Project.

The official said investigation shows NTDC didn’t raise any objection when the Korean company constructed the electricity delivery point which the state-owned entity didn’t want.

NTDC is currently dealing with transmission projects worth Rs421 billion.

“We have removed a joint secretary who allegedly developed vested interests with NTDC for various projects”, the official said.

“There are reports the same racket will launch some officials who will represent NTDC in LCIA and will give technical input in the case not up to the mark ensuring the government of Pakistan loses the case and in return they will manage some “commission” in British pounds,” senior officials in Power Division confided to The News. “We will keep a vigilant eye on the case proceedings”, they said.

When Shehbaz Sharif, they said, took charge as Prime Minister, this matter was brought before him. He constituted a committee to find out ways for out-of-court settlement arguing that record of the government shows it gets defeated in arbitration most of the time.

This scribe sent questions to NTDC, PPIB (Private Power Infrastructure Board) asking as to why the Korean company which built Patrind Hydropower Power plant moved LCIA and why NTDC failed to evacuate electricity on time. Both the departments did not respond.

To a question, the official said SHPL is an Independent Power Producer (IPP). It has invested in, and developed 147MW run-of-river Patrind Hydropower Project on River Kunhar near village Patrind, District Muzaffarabad of Azad Jammu & Kashmir (AJ&K). The project is generating electricity for Pakistan's National Grid. The project has been developed under the government's Policy for Power Generation Projects 2002 on BOOT basis with a concession period of 30 years. SHPL was incorporated in April 2006 as a public limited company to develop and implement the project. Korea Water Resource Corporation (K-water) and Daewoo Engineering & Construction Company are the sponsors of SHPL and have acquired 100pc shareholding in the company through Singapore-based investment vehicle, KDS Hydro.

Patrind Hydro Power Project is operational since November 2017. Hydropower projects, under 2002 policy read with Nepra’s Mechanism for Determination of Tariff Hydropower Projects, have three-tier cost-plus tariff determination process i.e. Feasibility Stage, EPC Stage and COD Stage true-up.

The project company, through CPPA-G, submitted a petition before Nepra’s determination of COD stage tariff with a total cost of $420.127 million. Nepra, however, approved the COD stage tariff on July 29, 2020 with a total cost of $ 326.261 million. The company filed a review petition before Nepra on August 28, 2020 which is pending till date.

Meanwhile, the company served a notice of dispute dated March 31, 2021 on GOP through PPIB under Section 16.1 of the GOP IA on November 30, 2011.

The company alleged the tariff determinations are discriminatory and a breach of Section 12.2 of the GOP IA. A committee has been constituted comprising representatives from Power Division, Law Division, IDU AG Office, MoF, MoFA, CPPAG, NTDC and PPIB to proceed in the matter.

Attorney General (AG) Office is finalising a future course of action. Pakistan now wants out-of-court settlement as the authorities think the case of NTDC and PPIB is weak.



Khotay Kya bachay, when he saved billion of $ in reko diq you don't bother to appreciate.
 

AZ1

Senator (1k+ posts)
acha aur rekodiq rajawall ne solve karwaya tha lol, turkey wala case alag
patwario ne apni life tou tabah karni hai sath poray country ka bera gark karna hai, kash paida hi na hotay yeh tou country ka bhala hota
 

Rajarawal111

Prime Minister (20k+ posts)
Another bullshit news planted by geo news of Pmln kanjars

PDM (14 political parties) + "Neutral" Establishment is in power since 2 months and 16 days. If Korean firm have moved towards Arbitration Court against Pakistan today, then it's incompetence of players under current setup.
Gutter news company, filthy news. Bhangi Patwari's wage hunters 🤣
Patwari aur itna brain work.... Sir Biryani khaaie aur moj uraaiiee.
ویسے تمہارا یہ ایک پرانا طریقہ واردات ہے کہیں سے منہ اور سر کے بغیر انگریزی کا قصہ چار درویش کا کاپی پیسٹ لے آتے ہو اور آخر میں سب کچھ لے کر عمران خان کے بلے پر چڑھ جاتے ہو کم از کرم دہاڑی تو حلال کی لگا لیا کرو
😂😂
agaya subah subha Noonie chamoona........copy paste ka expert
نیوز کی خبر ہو اور کسی لعنتی پٹواری نے پوسٹ کی ہو تو پڑھنے پہ وقت ضائع نہ کرے۔۔

یہ بکواس اخبار بکواس پہلے صفحے پہ چھاپے نگے اور تردید اندر کے صفحے پہ وہ بھی اتنا چھوٹا کہ نظر نہ ائے۔۔

عمران کے خلاف یہی حرامزگیاں انہوں نے 90 کی دہائی میں بھی بہت کی ہیں۔


تم سارے گھٹیا سی نسل کے جاہل عمرانی ہو - یہ دیکھو تمہارے یہ پیؤ - مقدمہ لڑ رہے ہیں کوروین کمپنی کا جاہلو


 

Rajarawal111

Prime Minister (20k+ posts)
acha aur rekodiq rajawall ne solve karwaya tha lol, turkey wala case alag
patwario ne apni life tou tabah karni hai sath poray country ka bera gark karna hai, kash paida hi na hotay yeh tou country ka bhala hota
I think I missed you dog in my post No. 14
 

eccentric

MPA (400+ posts)
تم سارے گھٹیا سی نسل کے جاہل عمرانی ہو - یہ دیکھو تمہارے یہ پیؤ - مقدمہ لڑ رہے ہیں کوروین کمپنی کا جاہلو


Abey Chut*ya suwer k follower patwari, angrezi smjh aati ha? Ya cost saving k mamla ha khotay, aisi Arbitration tu hoti rehni chahye. Gutter news nai purri maryam k chukk kai news banai ha.
 

Rajarawal111

Prime Minister (20k+ posts)
Abey Chut*ya suwer k follower patwari, angrezi smjh aati ha? Ya cost saving k mamla ha khotay, aisi Arbitration tu hoti rehni chahye. Gutter news nai purri maryam k chukk kai news banai ha.
جاہل Kutey I gave you information about your father fighting the case for Koreans in one post above.
 
Sponsored Link