Fiscal Year 2022 was a challenging year for the country with sustainable growth trajectory severely impeded by the aftershocks of Covid-19 pandemic and global geo-political events. Despite serious challenges encountered by the entire energy value chain of the country, in general, and power sector, in particular, on account of supply chain disruptions, dramatic imported fuel price escalations, constraints on fiscal & external accounts and double-digit inflationary trends, etc., CPPA-G, has effectively adapted and played its role for setting the trajectory of the power sector on the efficient, resilient and sustainable development pathways. The achievements of CPPA-G during the last fiscal year have been in accordance with its vision guided by the core values of CPPA-G.
CPPA-G efficiently managed the liquidity challenges during the last fiscal year without disruption of supply to the consumers. On the cost side, the joint mechanism was established with Ministry of Energy (Power Division) to facilitate the utilization of Afghan coal, resulting in reduction of FOREX exposure and consumer tariffs. Conforming to its commitment of serving and adding value to the power sector, CPPA-G has actively participated in the development of National Electricity Plan (NE-Plan) for the realization of goals, inter-alia, access to affordable energy, energy security & sustainability set in the National Electricity Policy 2021. Further, in order to meet the growing demand of consumers of Karachi specially during summer months, CPPA-G has initialed an agreement with K-Electric to supply additional 1400 MW of electricity at national pool price. Through this agreement all the outstanding issues of late payments by K.E have been duly addressed.
CPPA-G has taken many initiatives in FY2022 to enhance the overall efficiency of the power sector, apart from the routine functionalities. Leading the concept of competitive power markets, CPPA-G along with getting the Competitive Trading Bilateral Contract Market (CTBCM) plan approved has also received the Market Operator (MO) license which besides diversifying the portfolio of the organization has put it at the forefront to enable progressive market liberalization. Further, Market Management System (MMS) has been developed to enable systematic and automated settlement of Business transactions of the Market Operator.
CPPA-G has proactively strived to establish a robust, efficient and cybersecure workplace culture by embracing digitalization. The significant additions to attain operational excellence by plugging bottlenecks majorly include ERP (across the board), LMS, IMS, etc. Apart from streamlining operations through automation, the organization has significantly emphasized on empowering and developing its manpower through capacity building by conducting various inhouse/international workshops and trainings, etc. CPPA-G has implemented the best Corporate Governance practices as required under the Public Sector Companies (Corporate Governance) Rules 2013.
The core financial performance of CPPA-G encompassed financial settlement of Power Projects on behalf of DISCOs which delivered Energy worth Rs.1,522/- billion during Financial Year 2021- 22. Capacity tests were performed as per contractual requirements to ascertain the dependable capacity of the projects and 17 Power plants of different technologies with capacity of 3,207 MW were successfully integrated with the National Grid.
I would like to appreciate the dedication, commitment and perseverance exhibited by every single individual that has been a part of CPPA-G that enabled the accomplishment of milestones and contributed to its success. I firmly believe that our team will remain committed to the organization’s mission and vision thereby contributing to the objective of attainment of selfsustainable, efficient and dynamic power sector/energy sector