Finance Minister Asad Umar has been informed that gap in power sector's recovery against billing widened by 97 percent in the last fiscal year (2017-18) of previous government as opposed to a year before, with shortfall in billing and collection increased to Rs 114 billion from Rs 58 billion. Sources said that this was told to the finance minister during a comprehensive briefing on the circular debt of power sector.
The minister was told that increasing gap in recoveries and billed amount was one of the major factors behind circular debt, as gap in Discos' recovery against billed amount witnessed a sharp increase in the last fiscal year 2017-18 against 2016-17. The shortfall in recovery of billed amount was even greater from January to June 2018.
Sources said that the finance minister was told there was 2.65 percent decline in recovery of Lahore Electric Supply Company (LESCO) billing in the fiscal year 2017-18 as opposed to a year before. The company's total billing was Rs 272.552 billion and collection remained Rs 266.552 billion in fiscal year 2017-18 as opposed to Rs 223.588 billion billing and Rs 224.588 billion collection in 2016-17.
The Gujranwala Electric Power Company's (GEPCO) recovery of billed amount witnessed a decline of 0.84 percent in fiscal year 2017-18 as opposed to a year before. The GEPCO's total billing was Rs 122.229 billion and collection remained Rs 118.885 billion in fiscal year 2017-18 as opposed to Rs 103.308 billion billing and collection of Rs 101.345 billion 2016-17.
The finance minister was informed that IESCO's recovery of billed amount witnessed a decline of 1.51 percent in the aforementioned period. The IESCO's total billing was Rs 142.179 billion and collection remained Rs 128.473 billion during fiscal year 2017-18 as opposed to Rs 124.084 billion billing and collection Rs 113.995billion in fiscal year 2016-17.
The Multan Electric Power Company's (MEPCO) recovery of billed amount fell by 1.55 percent during fiscal year 2017-18 as opposed to fiscal year 2016-17. The MEPCO's total billing in fiscal year 2017-18 was Rs 180.375 billion and collection remained Rs 175.459 billion as opposed to Rs 142.657 billion billing and collection of Rs 140.986 billion in fiscal year 2016-17.
The recovery of Hyderabad Electric Supply Company Limited (HESCO) against billing declined by 18.49 percent in the fiscal year 2017-18 as opposed to the fiscal year 2016-17. The company's total billing was Rs 52.675 billion and collection remained Rs 40.428 billion in fiscal year 2017-18 against billing of Rs 47.467 billion and collection of Rs 45.205 billion a year before.
Recovery of Sukkur Electric Power Company (SEPCO) declined by 50.19 percent in fiscal year 2017-18 against 2016-17 as company's total billing was Rs 41.478 billion in fiscal year 2017-18 and collection remained Rs 24.798 billion as opposed to billing of Rs 35.418 billion and collection of Rs 38.952 billion in 2016-17.
Quetta Electric Supply Company's (QESCO) recovery against billed amount declined by 4.67 percent in fiscal year 2017-18 as opposed to a year before. The company's total billing was Rs 52.328 billion in fiscal year 2017-18 and collection remained Rs 13.378 billion as opposed to Rs 45.780 billion billing and collection of Rs 13.840 billion in fiscal year 2016-17.
However, some improvement in recovery against billed amount in Faisalabad Electric Power Company Limited and Peshawar Electric Power Company was noted in fiscal year 2017-18 as opposed to fiscal year 2016-17.
The total billing of FESCO was Rs 156.530 billion in fiscal year 2017-18 while Rs 155.899 billion remained recovery as opposed to Rs 135.588 billion billing in fiscal year 2016-17 with collection of Rs 134.672 billion.
The finance minister was told that PESCO's total billing in fiscal year 2017-18 was Rs 109.271 billion and collection was Rs 97.852 billion against Rs 98.674 billion billing and collection of Rs 87.901 billion in fiscal year 2016-17.
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