KESC has surpassed its First quarter target of Rs 11.20 billion by posting a revenue of Rs 11.52 billion.
The Corporation staged a smart recovery in revenue collection in July-September 2004-05 which shot up to 103 percent as compared to the corresponding period of the preceding year, while reducing its transmission and distribution (T&D) losses from previous 41 percent to 36 percent.
The annual revenue collection target for the year is fixed at Rs 46 billion.
The recoveries for 2003-04 raised to Rs 42 billion against Rs 20 billion of 1999-2000, showing an increase of 110 percent. The main reason for improvement in recovery is said to be the commencement of system improvement plan in July 2003 with the financial support of the Federal Government.
According to KESC spokesman, the subsidy from the federal government, which was Rs 17 billion in 1999-2000, was lowered to Rs 9.5 billion during 2003-04, while efforts were made by the management to further slash it to Rs 6.8 billion during the current financial year for ensuring profitability by the year 2006-07. He attributed this reduction in subsidy mainly to increasing electricity bill recovery from 80 to 95 percent last year and hoped it would reach at 96 percent by June 2005.
Highlighting other achievements made by the corporation under ongoing Financial Improvement Plan (FIP), he pointed out that power generation capacity of KESC had been enhanced by 113 MW, while 10 new power transformers had been added to the previously overloaded grid stations to eliminate about 30 percent of the load shedding taking place due to saturation of the power supply capacity at the grids.
Improvement was also being brought about in the city distribution system at the grass root level beginning from such areas, which remained under stress due to local area power breakdowns, he added. He further mentioned that Customer Services were being improved by establishing about 111 one-window customer service centres catering to needs of 10,000 to 15,000 electricity connections of their respective jurisdiction of which over 70 centres had already been established by the end of 1st quarter of the current fiscal year.
Comments
Comments are closed.