Home » Business » Rental power company refunds Rs1.8bn

Rental power company refunds Rs1.8bn

ISLAMABAD: The Techno Power, a rental power company, has refunded the Rs1.8 billion it had taken as advance payment for setting up a plant.

rental power companyThe company`s counsel apprised a Supreme Court bench headed by Chief Justice Iftikhar Mohammad Chaudhry that it had refunded the amount, including mark-up, after a decision by its board of directors.

The firm had agreed to repay the amount on the court`s directives for having failed to generate electricity it was required to provide in two years.

The bench was informed there were 19 RPPs and advance payment had been made to nine of them.

The Young Gena and Walters International had earlier returned Rs1.26 billion and Rs2.5 billion, respectively.

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