ISLAMABAD: Sui Northern Gas Pipeline Limited (SNGPL) said that it is facing grievous liquidity due to outstanding dues of Rs 176.302 billion against the power sector.
“A huge amount of Rs 176.302 billion has piled up against power sector due to non-payment of outstanding dues by Wapda and Central Power Purchasing Agency –Guaranteed (CPPA-G),” said Chief Financial Officer SNGPL in a letter to Director General (Gas) Petroleum Division.
Out of Rs 176.302 billion, receivables against Guddu Power stood at Rs 33.329 billion, Nandipur Rs 16.769 billion, TPS Muzaffargarh Rs 1.235 billion, GTPS Shahdra Rs 175 million, SPS Faisalabad Rs 92 million, NGPS Multan Rs 56 million, Rented Power Bhikki Rs116 million and Rented Power Sharqpur Rs 161 million, totalling to Rs 53.497 billion.
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According to SNGPL, undisputed amount is Rs 76.749 billion. Disputed gas charges comprise Rs 34.485 billion, Late Payment Surcharge on gas charges is Rs 62.866 billion, totalling to Rs 174.100 billion. After addition of Rs 2.202 billion on account of GIDC including LPS, total receivables stand at Rs 176.302 billion.
Total undisputed amount of Rs 16.835 billion is against Kapco, Engro Energy and Liberty Power. However, total outstanding amount against Kapco, Engro Energy and Liberty Power, Orient Power, FKPCL, Sapphire Power, Saif Power, Davis Energen and Halmore is Rs 26.586 billion.
Chief Financial Officer of SNGPL maintained that Rs 277 million is outstanding against disconnected Wapda rented power units, i.e., Bhikki and Sharqpur and Rs 77 million is outstanding against disconnected IPP-Davis Energen. “The current situation is detrimental for sustainability of the company and may jeopardise the overall financial structure of the company.
SNGPL is facing grievous liquidity crisis and due to delayed release of funds by power sector and now unable to discharge its commitments that include payments to upstream gas suppliers,“ he continued.
Keeping the severity of the issue in mind, SNGPL has requested Petroleum Division to take up the matter with Power Division for early release of funds to WAPDA, IPPs and GPPs (Government Power Plants) enabling them to discharge their respective liabilities towards SNGPL so that the company can honour its commitments to gas suppliers.
Copyright Business Recorder, 2023
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