Last Friday, we published a story under the above headline. The story attributed to the Finance Ministry said the government had frozen payments to independent power producers (IPPs) ahead of renegotiations of some existing power purchase agreements.
The statement issued by the Ministry rather stated that the government has put on hold its initial instruction to ECG, GNPC and PDS to pay only for power consumed “to allow time for the ongoing collaborative consultation process with the IPPs and Gas Suppliers.
We regret the initial miscommunication and any inconvenience arising from the reportage caused to the Finance Ministry, the IPPs and any other stakeholders.
Find attached the full statement issued by the Finance Ministry.