Saif Power Limited Approves Switch to Hybrid Take and Pay Model 

The Board of Directors of Saif Power Limited (PSX: SPWL) has approved to revise tariff proposed by the Task Force constituted by the Prime Minister of Pakistan to convert the existing tariff to ‘Hybrid Take and Pay’.  “The Board of Directors of the Company has discussed and approved the amendments to Power Purchase Agreement (PPA), Implementation Agreement and to revise tariff as proposed by the Task Force constituted by the Prime Minister of Pakistan to convert the existing tariff to ‘Hybrid Take and Pay’ to execute Amendment Agreement with the Government of Islamic Republic of Pakistan and the Central Power Purchasing Agency (Guarantee) Limited to implement the proposed amendments,” the company said in a notice to the Pakistan Stock Exchange (PSX) on Friday.  Key terms and conditions of the agreement include:  The amendment agreement would be effective from November 01, 2024;