Power sector receivables jump 10 percent, touch Rs 805 billion

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ISLAMABAD: Pakistan’s power sector receivables rose to Rs805 billion by end of January 2018, posting a 10 percent increase in 1st seven months of FY 2017-18 compared to end-June 2017 when they stood at Rs730 billion.

Official documents revealed power distribution company’s collection slumped 10.3 percent, touching Rs655.94 billion by end of January 2018 compared to the billing of Rs731.71 billion in first seven months of FY 2017-18, reported Business Recorder.

Also, provinces receivables rose to Rs139.38 billion by end of January 2018 against Rs115 billion in June 2017.

The billed amount for the first seven months of FY 2017-18 for provinces stood at Rs77.76 billion against a collection of Rs53.50 billion.

Punjab’s receivables soared to Rs3.92 billion from Rs1.63 billion previously. Billing to Punjab was recorded at Rs14.99 billion against the collection of Rs12.74 billion.

Outstanding arrears of Khyber-Pakhtunkhwa were recorded at Rs20.22 billion in January 2018 against Rs19.65 billion in June 2017.

Billing in the above-mentioned period stood at Rs3.88 billion against a collection of Rs3.16 billion in KP.

This is inclusive of Rs18.6 billion determined for KPK power consumers for the period September 5th, 2008 to September 15th, 2010 because of tariff differential after withdrawal of KPK case from Peshawar High Court.

Adjustment of these receivables of KP has been linked to the markup payable on net hydel profit arrears, owed to as recommended by the province.

Sindh’s receivables were recorded at Rs4.72 billion by end of January 2018 against Rs1.35 billion reported in June 2017.

Its billing stood at Rs12.95 billion against a collection of Rs9.59 billion.

A major contributor to the low receivable figure of Sindh is because of Rs50 billion write-off which was approved by the Economic Coordination Committee (ECC) to the provincial government.

Baluchistan’s receivables at end of January 2018 stood at Rs9.94 billion compared against Rs6.75 billion in end of June 2017.

Its collection stood at Rs0.69 billion against billing of Rs3.87 billion.

Receivable of the private sector swelled to Rs600 billion by end of January 2018 compared against Rs554.8 billion in June 2017, as Disco’s failed in improving recoveries from this sector.

Collection of the private sector stood at Rs580 billion against billing of 624.87 billion by end of January 2018.