Power sector billing recovery stalls, financial gap widens to Rs324 billion for July-April FY18

Total billing of discos amounted to Rs976.339 billion during the first ten months (July-April) FY18 and total receipts were recorded at Rs652.158 billion

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ISLAMABAD: An increase in the shortfall of recovery of billed amount for power distribution companies has caused the gap to yawn to Rs324 billion during July-April 2017-18.

According to sources in the finance ministry, a summary available from Central Power Purchasing Agency (CPPA) showed a rising financial gap of Discos during first 10 months (July-April) FY18 compared to FY17, reported Business Recorder.

Total billing of discos amounted to Rs976.339 billion during the first ten months (July-April) FY18 and total receipts were recorded at Rs652.158 billion.

For Lahore Electric Supply Company (Lesco), a deficit of Rs42.209 billion in the recovery of total billing was recorded during July-April FY18.

Total billed amount during the above-mentioned period for Lesco stood at Rs205.102 billion against recovery of Rs162.894 billion.

Gujranwala Electric Power Company (Gepco) receipts during July-April FY18 stood at Rs81.746 billion against the total billing of Rs93.959, resulting in a deficit of Rs12.213 billion.

Faisalabad Electric Supply Company (Fesco) receipts during July-April FY18 touched Rs93.211 billion against total billing of Rs129.132 billion, causing a shortfall of Rs35.921 billion.

And Islamabad Electric Supply Company (Iesco) receipts during July-April FY18 stood at Rs74.483 billion against total billing of Rs97.973 billion, causing a deficit of Rs23.490 billion.

Similarly, Sepco’s receipts during July-April FY18 stood at Rs13.22 billion against total billing of Rs39.298 billion, resulting in a shortfall of Rs25.676 billion.

For Qesco, the receipts during the aforementioned period touched Rs11.001 billion against total billing of Rs57.381 billion, causing a deficit of Rs46.380 billion.

Mepco’s receipts during July-April FY18 were recorded at Rs115.100 billion against total billing of Rs163.776 billion, causing a shortfall of Rs48.676 billion.

Pesco’s total receipts during July-April FY18 stood at Rs70.652 billion against total billing of Rs123.069 billion, resulting in a deficit of Rs52.17 billion.

Hesco’s overall recoveries during July-April FY18 stood at Rs19.823 billion compared to the total billing of Rs51.861 billion, resulting in a deficit of Rs32.558 billion.

TESCO’s total billing was Rs 14.789 billion and total receipts were Rs 10.177 billion, showing a shortfall Rs 4.612 billion during the 10 months of 2017-18.