FESCO management has successfully resolved the long standing billing dispute with M/s Galaxy Textile Mills, Jhang without extending any undue concessions, claimed a spokesman of FESCO. Commenting on the propaganda in the media, a spokesman said that no preposterous facility of monthly instalments to this industrial unit has been given by the FESCO.
Continuing, the spokesman said that FESCO is the best of the distribution companies and takes pride in serving in addition to meeting all targets set by the Regulator NEPRA. "This could only be done in case full recoveries are made and when the customers feel fully served", he said and added that recovery of the outstanding arrears amounting to the tune of Rs 70.246 million has been decided with eight quarterly instalments starting at the rate of Rs 2.5 million, Rs 5 million, Rs 7.5 million and lastly Rs 10 million.
He further said that incidentally, the above amount includes recovery of late payment surcharge, and interest on the prevailing bank rates. "FESCO has also secured advance post-dated cheques against the instalments", he said and added that no special facility has been provided to the customer without waiving late payment surcharge or interest. He said that all conditions for instalments are extremely strict and power supply to the textile mills is liable for disconnection even if one instalment is delayed. Also the above has been resolved as per FESCO / PEPCO rules and then duly ratified by the Board of Directors of FESCO, Faisalabad.
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