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.


September 01, 2010

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.

COMMENTS (4)

Shahrukh Salman | 11 years ago | Reply @ Tani: True enough. An old saying goes like this: "Its better to remain silent and be thought a fool, than to speak up and remove all doubts"
plesed | 11 years ago | Reply Why do we have to bring religion to the topic. I read some-where in the news, Pepco have to be done away. Is the thinking go No more Pepco = No more debt. If I am right Wapda failed but Pepco in the balance. Really Wapda should be done away. Wapda = floods, no electricity, no water and more No(s) from Wapda. Come on guys, we have to save Pepco and get rid of Wapda. Eeman how wrong can you be, Tani is right. bye bye
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