A spokesperson of the National Transmission and Dispatch Company (NTDC) has said on Thursday that the Karachi Electric Supply Company (KESC) owes Rs70 billion to the NTDC.
“There are misconceptions regarding the payment schedule of the Karachi Electric Supply Company being published time to time in various sections of press,” the spokesperson said.
He further said that, as per the record available, the KESC purchased electricity during September 2008 to June 2012 worth a total amount of Rs177 billion, out of which it paid back Rs122 billion; a total amount of Rs54.7 billion remains outstanding.
This amount is in addition to a total mark up of Rs15.5 billion incurred for delayed payments during the period, which takes NTDC’s total receivables from KESC to Rs70.2 billion.
It is pertinent to note that no payment was made by KESC in the current fiscal year, he added.
Published in The Express Tribune, August 31st, 2012.
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