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zeeshan
Joined: 21 Jan 2016
Posts: 655
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| K-Electric Payables upto Rs. 68 billion SSGC |
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Having reported a benefit of Rs 22.7 billion in nine months of continuous budgetary year, K Electric remains a defaulter of Sui Southern Gas Limited with colossal duty heaped up to Rs 68 billion.
As indicated by a representative, K-Electric is one of its essential defaulters which to date owes it Rs. 68 billion and not Rs. 58 billion, with the last paying the sum equal to current bills and some overdues according to concurred installment arrange.
On numerous occasions, SSGC has taken all suitable and prompt measures for full recuperation of every single exceptional sum from KE and different clients.
Considering the reality of the issue, the organization administration has been seeking after its genuine claim from KE by documenting recuperation suit against the last mentioned. In the meantime, the SSGC administration is in consistent contact with the concerned services to speed up the recuperation of exceptional contribution from KE and also other significant defaulters.
This is, obviously, notwithstanding various installment understanding arrangements inked by both partners since 2009 that gave a commonly concurred installment component. It should likewise be said here that, regularly, the Company presents an Inter Corporate Circular Debt answer to the Finance Division of the Government of Pakistan that redesigns the receivables position of KE and different clients.
It is correlated to specify here that Pakistan's greatest power utility has earned a benefit after assessment of Rs 22.7 billion amid July-March of FY16 against Rs 16.2 billion amid the comparing time of last financial year, portraying an expansion of Rs 6.5 billion.
Amid the period under survey, the legislature paid a measure of Rs 14 billion by virtue of levy change (endowment) to the organization, down from Rs 34 billion. The uses under the head of procurement of power diminished from Rs 54.83 billion to Rs 40.6 billion in initial nine months of this financial year.
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| Fri Oct 21, 2016 12:51 pm |
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