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Techno Power returns advance money
ISLAMABAD: Counsel for Techno Power, Sahuwal, a rental power producing plant, apprised the Supreme Court (SC) Tuesday that Rs1.8 billion-advance sum, including mark up have been refunded to the Government of Pakistan.
Raja Anwarul Haq, counsel for the company, presented the certificate to the three-member bench, headed by Chief Justice Iftikhar Muhammad Chaudhry.
The bench adjourned hearing till 2nd February. The company had agreed to return an amount of Rs1.8 billion, including mark up, which had been taken as advance payment. The company failed to generate the required power capacity despite lapse of two-year.
Yesterday, the bench was apprised that a total of 19 RPPs were in the field, out of which advance payments of $14.78 were made to nine companies. Out of these total nine companies, four had returned the payments, including Messers Young Gena and Walters International, which had returned Rs1.26 billion and Rs2.5 billion respectively. The bench is seized with hearing of a suo moto taken on the appeal of Makhdoom Faisal Saleh Hayat, a PML-Q leader.
Courtesy www.geo.tv
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