K-Electric Transaction Update – 07th September 2021
LTA
Revised LTA report has been received and reviewed by KE. KE’s comments have been sent across to
the LTA. A meeting is to be setup between KE and the LTA to close all open items (comments on report,
requirements for financial model, LTA requirements etc), for which the LTA has been asked for their
availability.
LIA
The revised LIA report has been received and sent across to KE.
Agreements
HMCO has sent the CTA and STFA, which have been sent to KE for their review. HMCO is currently
drafting the Musharaka Agreement and the WC Facility Agreements.
Participations
Pak Kuwait
Status
Approval in place. Firm commitment sent to
Nofel/Dabeer on 14th June
Approval in place, communicated to Nofel
Approval in place
Approval in place
In process (no response)
In process with risk, (no response)
LT approval in place, ST not yet. Spoken to Nofel
Approval in place
Pak China
DIB
Al Baraka
Askari
FBL
BAFL
NBP
HBL
Total Participation
PKR Mn
875
875
500
1,000
1,850
2,950
4,450
15,000
15,000
42,500
Contact Person
Naeem
Sana
Frasat
Munir
Akhlas
Arsalanullah
Adnan
Ahmed Qadar
KE
SBP has put discrepancy over the Lummus and Indecs cases as they want the contracts to be
revalidated. LTA and LIA are to acknowledge that the engagement is ongoing & applicable till FC.