The Pakistan Credit Rating Agency Limited
26-Sep-25
Analyst
Anam Waqas Ghayour
anam.waqas@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-25
- Methodology | Rating Modifiers | Apr-25
- Methodology | Independent Power Producer Rating | Jul-25
Related Research
This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA
PACRA Withdraws the Entity Ratings of Lalpir Power Limited
| Rating Type | Entity | |
|
Current (26-Sep-25 ) |
Previous (27-Sep-24 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | AA |
| Short Term | - | A1 |
| Outlook | Stable | |
| Rating Watch | - | - |
Following the management’s decision to discontinue the entity ratings of Lalpir Power Limited, PACRA
has withdrawn the entity ratings with immediate effect.
.
About
the Entity
Lalpir Power Limited was established for electricity generation under the power policy 1994 as an Independent Power Producer (IPP). The plant is located at Mehmood Kot, near Muzaffargarh (Punjab), and has an installed capacity of 362MW. The project has a remaining life of approx. 4 years under the PPA. The Company has entered into a contract for a period of thirty years for the purchase of fuel from PSO. Lalpir Power is listed on the Pakistan Stock Exchange. The major shareholder of the company is Nishat Group (46.68%) through individuals, associated companies, and related parties. Mian Hassan Mansha, heading the Nishat Group's interest in the power sector, is the Chairman of the board. All the board members are seasoned professionals with having interest in various sectors of the industry. The management team comprises of qualified professionals possessing sufficient experience in the power sector.