The fee of law firm will be £230,000 whereas fee of barrister will be finalized by the Attorney General Office, the sources added.
Recently, MD PPIB, Shah Jahan Mirza apprised the Board that Star Hydro Power Limited (SHPL) and NTDC entered into dispute over delay in installation of Power Purchaser Inter-Connection Facility by NTDC.
Both parties filed counter arbitral claims against each other before LCIA, wherein NTDC’s claim was dismissed and it was found in breach of terms of PPA in making payment of liquidated damages. Thereafter, SHPL filed case before Lahore High Court for enforcement of the Award, whereas NTDC as a counter strategy challenged the Award in Civil Court Lahore and both cases are pending before the respective Courts.
Meanwhile, SHPL raised demand for payment of Award from NTDC and CPPA-G, which was rejected by CPPA-G. Subsequently, SHPL served demand notice upon PPIB under section 1 .5.1 of Guarantee, which was rejected by PPIB on grounds that it was untenable under the applicable laws of Pakistan