Govt defaults on payments of Rs130 billion: MD PEPCO

MD Pepco said the government has defaulted on Rs130 billion while Pepco owes Rs175 billion to oil and gas companies.

Managing Director Pakistan Electric Power Company (Pepco) Tahir Basharat Cheema on Wednesday said that the governement has defaulted on Rs130 billion of outsatnding payments to Pepco while Pepco owes Rs175 billion to oil and gas companies.

While addressing the National Assembly's Public Accounts Committee, Cheema said Pepco has to recover Rs49 billion from KESC, Rs26 billion from the Sindh government, Rs10 billion from the Punjab government and Rs12 billion from the government of Balochistan.

Secretary of Water and Power told the committee that a new legislation is needed for the recovery of the money. He also revealed that construction of Basha Dam will start this year.