Hubco puts up payment demand for Narowal Project – Alfalah Securities Limited

Karachi, November 02, 2012 (PPI-OT): Hub Power Co. Ltd. (HUBC) has raised a demand of payment in respect of Narowal Power Project under the government of Pakistan’s Guarantee dated March 11, 2009.

According to Alfalah Securities Limited, HUBC has sent a notice of demand to Private Power and Infrastructure Board (PPIB) due to failure of National Transmission and Dispatch Company (NTDC) to make payments in accordance with the Power Purchase Agreement dated November 20, 2008. Narowal Power project commenced commercial operations with effect from April 21, 2011.

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