LAHORE: While the Pakistan Electric Power Company received a subsidy of Rs74 billion from the government during the first eight months (July-Feb) of the current fiscal year, its receivables increased by Rs80 billion by the end of December from Rs204.189 billion in the last financial year.
It received the first instalment of Rs44 billion budgeted subsidy – Rs30 billion as direct subsidy, Rs10 billion on Fata head and Rs4 billion as general sales tax refund.
The finance ministry gave another Rs30 billion in November to reduce circular debt.
Now the government is in the process of transferring Rs30 billion to the Pakistan State Oil to ensure smooth oil supply to the power sector.
Pepco’s receivables from private consumers in the first six months (July-Dec) of the current financial year increased to Rs126 billion from Rs103 billion in the last financial year.
The distribution companies issued bills for Rs261.571 billion during the July-Dec period, but collected Rs238.501 billion. The Karachi Electric Supply Company owed Rs58 billion to Pepco. The amount stood at Rs42 billion by the end of the last financial year.
The Khyber Pakhtunkhwa government is the biggest official defaulter with Rs19.64 billion dues.
Pepco’s outstanding dues against the Sindh government went up to Rs35 billion from Rs25.79 billion in the last fiscal year.
Total dues against the government departments rose to Rs156.820 billion from Rs99.81 billion in the last fiscal year.
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