The power sector's receivables rose by 23 percent to Rs 896.36 billion from Rs 729.88 billion during 2017-18, a key reason for the continuous hike in circular debt and borrowing from commercial banks by slapping surcharges on consumers, well informed sources told Business Recorder. The main contribution in receivables was liabilities of private sector which rose from Rs 554.79 billion to Rs 670.70 billion. The collection from private sector was recorded at 958 billion during this period against billing of Rs 1.074 trillion.
The amount of receivables against Karachi Electric (KE) has increased from Rs 60 billion on July 1, 2017 to Rs 78.40 billion as on June 30, 2018 against supply of 650 MW of electricity from the national grid sans any agreement.
The volume of receivables against provinces has increased to Rs 146.84 billion as of June 30, 2018 compared to Rs 115 billion on July 1, 2017. The total collection during this period stood at Rs 94.49 billion against billing of Rs 126.13 billion. The amount of receivables against Punjab increased from Rs 1.63 billion to Rs 3.21 billion. Collection from Punjab stood at Rs 23.82 billion against billing of Rs 25.34 billion. Outstanding receivables against KPK government were Rs 19.5 billion by end-June 2018 as compared to Rs 19.65 billion on July 1, 2017. The collection was Rs 6.29 billion in KPK against billing of Rs 6.27 billion.
This includes Rs 18.6 billion assessed for KPK consumers for the period September 5, 2008 to September 15, 2010 on account of tariff differential after the withdrawal of KPK petition from the PHC. The assessed amount has not been passed on to consumers. The payment of these receivables has been linked to the mark-up on NHP arrears payable to KPK government as proposed by the province. The volume of receivables against Sindh was Rs 6.13 billion as of June 30, 2018 compared to Rs 1.35 billion on July 1, 2018. Collection in Sindh was Rs 13.91 billion against billing of Rs 18.64 billion. The amount of receivables against Balochistan increased to Rs 11.54 billion as of June 30, 2018 against Rs 6.75 billion on July 1, 2017. The provincial government paid only Rs 1.70 billion against billing of Rs 6.49 billion.
An increase of 23 per cent was witnessed in AJ&K receivables to Rs 99.27 billion as compared to Rs 80.75 billion of which the share of the federal government was Rs 0.40 billion because of continuous non-payment by the Azad Kashmir government. The billing during the entire year reached Rs 23.41 billion of which collection stood at Rs 4.89 billion.
The volume of receivables against the federal government increased to Rs 7.20 billion till June 30, 2018 against receivables of Rs 4.88 billion starting from July 1, 2017.
The federal government comprises federal government departments, local bodies under federal government, autonomous bodies under the federal government and water and power sector. The billing against federal government stood at Rs 45.98 billion whereas collection was Rs 43.88 billion as on June 30, 2018. Collection from defence was Rs 17.48 billion against billing of Rs 18.05 billion.
The volume of due amount from Balochistan on account of agri-tubewells reached Rs 2232 .86 billion till June 30, 2018 against Rs 185.30 billion as on July 1, 2017, posting an increase of Rs 25.4 per cent. Of this, the share of the federal government was Rs 23.86 billion, the government of Balochistan's share was Rs 20.06 billion and consumers share @ Rs 4000 per tubewells, was Rs 155.30 billion. The billing during the entire fiscal year stood at Rs 52.86 billion whereas collections were only Rs 5.70 billion.
The receivables against domestic consumers of Fata stood at 26.85 billion as on June 30, 2018 against amount of Rs 22.18 billion on July 1, 2017. The collection was recorded at Rs 9.21 billion against billing of Rs 13.88 billion.
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