PEPCO circular debt reaches Rs215b: Report
Report available with Express News states Pepco’s financial condition has resulted in an increase in load-shedding.
ISLAMABAD:
The circular debt of Pakistan Electric Power Company (PEPCO) has increased by more than Rs215 billion owing to reduction in recovery and failing to receive fines from power pilferers, Express News reported on Wednesday.
According to a report available with Express News, power distribution companies including Pepco, Tribal Electricity Supply Company (TESCO) and Faisalabad Electric Supply Company (FESCO) have failed to receive current bills and arrears.
Only 86.5% recovery was made in fiscal year 2010-11 as compared to 104.3% recovery in 2009-10.
Pepco’s financial condition has resulted in a massive increase in power load-shedding. The company has been unable to pay arrears to oil and gas companies, which has resulted in the reduction of more than 2,000 megawatts of thermal power generated by Rented Power Houses and private power companies.
The overall shortfall has increased by up to 6,500 megawatts.
The circular debt of Pakistan Electric Power Company (PEPCO) has increased by more than Rs215 billion owing to reduction in recovery and failing to receive fines from power pilferers, Express News reported on Wednesday.
According to a report available with Express News, power distribution companies including Pepco, Tribal Electricity Supply Company (TESCO) and Faisalabad Electric Supply Company (FESCO) have failed to receive current bills and arrears.
Only 86.5% recovery was made in fiscal year 2010-11 as compared to 104.3% recovery in 2009-10.
Pepco’s financial condition has resulted in a massive increase in power load-shedding. The company has been unable to pay arrears to oil and gas companies, which has resulted in the reduction of more than 2,000 megawatts of thermal power generated by Rented Power Houses and private power companies.
The overall shortfall has increased by up to 6,500 megawatts.