One key factor for the success of Hubco is having good relations with various business partners. These relations are governed by several project agreements with the Government of Pakistan and other parties.

The agreements with the Government of Pakistan and its agencies which have a thirty year maturity are as follows:

The Implementation Agreement with the Government of Pakistan under which the latter guarantees the obligations of WAPDA under the Power Purchase Agreement, PSO under the Fuel Supply Agreement and the undertakings of the State Bank under the Foreign Exchange Risk Insurance Scheme

The Power Purchase Agreement with WAPDA which determines the principles under which the plant is operated and the tariff arrangements. Under the agreement WAPDA may instruct Hubco to generate and deliver electricity into the Grid up to the available Net Capacity of the plant. Tariff payments will be made by WAPDA whether or not the plant is despatched, provided that it is available for despatch, but penalties will be paid to WAPDA for shortfalls in Net Capacity and excessive forced outages. Bonuses are also paid to WAPDA for generation in excess of 65% of the maximum potential output of the plant.

The Fuel Supply Agreement was signed with PSO to supply all the plant's fuelrequirements through a dedicated Pipeline. Under this agreement, Hubco will purchases its requirements for residual fuel oil from PSO; compensation will be payable to Hubco in the event of failure by PSO to meet the plant's fuel requirements.

The Operation and Maintenance Agreement between Hubco and International Power, under which Internation Power PLC acts as Operator of the plant for an initial period of 12 years from the beginning of commercial operations. Under the terms of this agreement, Internation Power PLC has assisted Hubco in the review of designs for the plant and has undertaken to operate the plant to the requirements set by the Power Purchase Agreement with WAPDA

A Foreign Exchange Risk Insurance Scheme has been provided by the State Bank of Pakistan to make foreign exchange available at fixed rates for debt service.