Task force reviews KE payables, receivables
PHOTO: FILE
The matter of payables and receivables between K-Electric and the federal government is being reviewed by a task force constituted by Prime Minister Shehbaz Sharif for reconciliation, said KE in a statement on Friday.
“The outstanding payable amount towards Central Power Purchasing Agency (CPPA-G) reported in the circular debt management plan with respect to KE correctly refers to the amount, of which Rs349.4 billion is the principal amount. The remaining Rs140 billion pertaining to government claims is referred to as mark-up, which is disputed,” a KE spokesperson said.
The spokesperson added that the task force, headed by Shahid Khaqan Abbasi, had already undertaken work to reconcile the government dues owed to KE.
KE is owed Rs486 billion in tariff differential subsidy (TDS) claims and other amounts by various government entities. As of Dec 2022, KE had to receive Rs80 billion from the government on a net principal basis.
The task force is also leading the signing of agreements between KE and govt entities for smooth payments for power purchase from the national grid and the release of TDS.
Published in The Express Tribune, February 18th, 2023.
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