Financial gap widens to Rs324bn in July-April


ISLAMABAD: The financial gap of power distribution companies has widened during July-April 2017-18 to Rs324 billion due to shortfall in recovery of billed amount.

Sources in the finance ministry stated that a summary of Central Power Purchasing Agency (CPPA) revealed increasing financial gap of Discos in July-April 2017-18 as opposed to previous fiscal year. The total billing of distribution companies was Rs 976.339 billion in July-April 2017-18 while total receipts (including subsidy and excluding late payment surcharge and DSS remained Rs652.158 billion.

A shortfall of Rs42.209 billion in recovery of total billing of Lahore Electric Supply Company Limited (LEsco) was noted in July-April 2017-18. The total recovery against billing of Rs205.102 billion was Rs162.894 billion.

The shortfall of Gujranwala Electric Power Company (Gepco) was recorded at Rs12.213 billion as a result of Rs93.959 billion billing and Rs81.746 billion receipts during the period under review.

The shortfall of Fesco stood at Rs 35.921 billion during the first ten months of 2017-18 subsequent to Rs129.132 billion billing and Rs93.211 billion receipts.

The total billing by Iesco was Rs 97.973 billion and total receipts (including subsidy & excluding DS/LPS) remained Rs74.483 billion with a shortfall of Rs23.490 billion.

Likewise, Mepco’s total billing was Rs 163.776 billion and collection remained Rs 115.100 billion, reflecting a shortfall Rs 48.676 billion while total recoveries of Hesco stood at Rs19.283 billion against the total billing of Rs 51.861 billion, reflecting a shortfall of Rs32.558 billion.

The total billing by Sepco was Rs 39.298 billion whereas total receipts remained Rs13.22 billion with a shortfall of Rs25.676 billion and QESCO’s shortfall amounted to Rs46.380 billion as total billing was Rs57.381 billion and receipts remained Rs11.001 billion.

The PESCO’s total billing remained Rs123.069 billion and total receipts stood at Rs70.652 billion reflecting a shortfall of Rs52.417 billion. The TESCO’s total billing was Rs14.789 billion and total receipts were Rs10.177 billion, showing a shortfall Rs4.612 billion during the 10 months of 2017-18.