KPS KAYA BEY
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Pakistan government waived off port charges
The Pakistan government has waived off the port charges incurred by the owner of floating power station 'Karadeniz Powership Kaya Bey' in Pakistan, during the litigation/arrest of the vessel. The Economic Coordination Committee (ECC) of the Cabinet of Pakistan?s government last week relinquished about Rs.195 million port charges to the Turkish firm Karkey, as part of a $1.2 billion dispute settlement. The meeting was presided by PM's Finance Adviser Dr. Abdul Hafeez Shaikh and the waiver was required as a consequence of settlement agreement reached between the Government of Pakistan and Karkey recently, after top heads of both governments resolved the issue, out-of-court.
Turkish power ships retained in Karachi
Two Turkish power-generating ships, whose contracts were cancelled earlier this month, have been kept in Pakistan over claims from a oppositional member of the Pakistani Parliament. The ships generated electricity for Pakistan over the past two years, but were set to return to Turkey after the Pakistani High Federal Court canceled all energy rental agreements in the country on the grounds that the energy deals were undertaken in an irregular manner. Authorities decided the ships had to leave after repaying the unused amount of the $17.2 million deposit issued by the Pakistani government. However, a Pakistani member of the country’s parliament lodged an objection with the court, claiming that Turkish ship-owners Karkey – a subsidiary of Karadeniz Holding – should pay $229 including interests for the ships release. The court blocked the ships from leaving the country, and “Kaya Bey” and “Ali Can Bey,” with a value of $400 million, are being held in the territorial waters of Karachi, one of the main cities of Pakistan. Read more at http://www.hurriyetdailynews.com/turkish-power-ships-retained-in-karachi.aspx?pageID=238&nID=34772&NewsCatID=348
Mobile rental plant not allowed to leave Karachi port
As the repayment dispute continues over controversial rental power deals, the government has stopped Turkish firm Karkey Karadeniz from taking its ship-mounted power plant out of Pakistan’s port, officials said on Saturday. Four ships carrying the 232-megawatt power plant and auxiliary equipment will remain anchored at Port Qasim until the government receives the part of advance payment made to the company when the agreement was signed three years back. “Yes, we have been told not to give them permission to leave until further orders,” said Port Qasim Authority Chairman Vice Admiral Muhammad Shafi. “A letter in this regard was received from the National Accountability Bureau (NAB) on Friday.” Read more at http://tribune.com.pk/story/460534/mobile-rental-plant-not-allowed-to-leave-karachi-port/
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