ISLAMABAD: The Central Power Purchasing Agency–Guaranteed (CPPA-G) and Pakistan State Oil (PSO) are at odds over the authenticity of PSO’s receivables from the Nandipur Power Plant (NPP), with both sides presenting conflicting claims, well-informed sources told Business Recorder . The dispute surfaced following a meeting held on December 30, 2025, in Islamabad to discuss gas allocation and the Gas Sale Purchase Agreements (GSPAs) of Guddu Power Plant (GPP) and Nandipur Power Plant. PSO officials participated remotely and were advised to formally communicate the receivable position of GENCO-III/NPP as of January 1, 2025. READ MORE: Senate panel told: Guddu and Nandipur power plants ready for sell-off According to PSO, its principal receivables from GENCO-III amount to Rs65.3 billion, of which Rs61.1 billion pertains to Nandipur Power Plant. The total outstanding against GENCO-III stands at Rs159.2 billion, including Rs93.9 billion in late payment surcharge (LPS). PSO stated that it approached CPPA-G for the release of payments but was informed that CPPA-G had no liability toward GENCO-III or NPP, claiming all dues had already been cleared. PSO maintains that during a meeting, held in October 2019 at the GENCO-III office in Muzaffargarh, it was informed that CPPA-G had paid approximately Rs61 billion meant for PSO. PSO alleges that GENCO-III instead used Rs32 billion of the amount for capital investment in Nandipur Power Plant, while the remaining Rs29 billion was utilized to cover operational losses during the plant’s initial period. PSO further stated that its receivables include Rs3.8 billion related to furnace oil supplies made to NPP in July 2016, comprising Rs87 million in principal and Rs3.8 billion in LPS. Despite repeated follow-ups, PSO claims no progress has been made and requested the Power Minister to direct the concerned authorities to expedite the release of payments, particularly ahead of the proposed privatisation of Nandipur Power Plant. Meanwhile, the Petroleum Division approached Prime Minister Shehbaz Sharif over non-payment of more than Rs409 billion owed to PSO, Pakistan Petroleum Limited (PPL), and Sui Northern Gas Pipelines Limited (SNGPL) by public sector power generation companies (GENCOs). The issue was also discussed in a meeting of the Economic Coordination Committee (ECC) on December 9, 2025, where it was noted that GENCO-II and GENCO-III together owe Rs409.26 billion to fuel suppliers. In a letter, the Minister for Petroleum recalled that the Minister for Power had assured the ECC of making personal efforts to resolve the issue and requested a clear settlement plan, along with a consultation meeting between the Additional Secretaries of both divisions to finalize a roadmap for prompt payment. According to sources, PPL’s outstanding receivables from GENCO-II stand at Rs146.15 billion (principal Rs77.63 billion and LPS Rs 68.52 billion). Mari Petroleum is owed Rs34 billion in principal and Rs49 billion in LPS, while SNGPL’s receivables include Rs8.9 billion in principal and Rs21.21 billion in LPS. PSO’s total receivables from GENCO-III amount to Rs150 billion, including Rs68 billion in principal and Rs82 billion in LPS. Overall, principal receivables against GENCO-II stand at Rs120.53 billion with LPS of Rs138.73 billion, while GENCO-III’s principal liabilities total Rs68 billion with LPS of Rs82 billion. Earlier, on August 5, 2025, the Petroleum Minister had also written to the Power Minister, reminding him that the issue of outstanding receivables from GENCO-II and GENCO-III was raised during the Cabinet Committee on Energy (CCoE) meeting held on July 29, 2025, but was not addressed in discussions on power sector circular debt settlement. Copyright Business Recorder, 2026