Nandipur power project handed over to Chinese firm

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ISLAMABAD, Feb 7 (APP): Nandipur power project has been handed over to a Chinese company on contract for a period of ten years, and the deal has been signed as well.
According to Dunya news channel, Secretary to Ministry of Water and Power Zaffar Iqbal,Muzaffargarh Thermal Power Station CEO, Nadeem Rabbani and head of Chinese company with two officers inked the contact.
As per the contract, the government is responsible to pay all the federal as well as withholding taxes which happen to be 16 percent.
Moreover, Pakistan Electric Power Company (PEPCO) will provide required items and repair work to Chinese company for the  whole tenure. Furnace oil, high speed oil and gas will also be supplied
by PEPCO.
The company can be fined on daily basis if electricity production is delayed. The custom duty on mechanical parts that will be imported is to be paid by Chinese company, the agreement said.
However, government will cooperate completely to lessen the custom duty or to issue any license or permit.
The company is bound to pay remaining balance of those workers who will be terminated.
According to officials, legal regulations of this contract have been fulfilled completely.