General Financial Rules: Power Division asked to surrender Rs 24 billion anticipated savings

The Power Division has been asked to surrender the anticipated savings of about Rs 24 billion of financial year 2018-19 as per General Financial Rules (GFR) due before or on May 15 each year, well-informed sources told Business Recorder.
The Finance Division, sources said, in its Office Memorandum (OM) of April 3, 2019, intimated that an amount of Rs 5 billion had been allocated as subsidy to Wapda/Pepco on account of tariff differential for agriculture tube wells in Balochistan, which is still in balance. And an amount of Rs 12 billion earmarked for subsidy to Karachi Electric (KE) for tariff differential for agriculture tube wells in Balochistan has not been spent to far.
According to the Finance Division, the government had earmarked Rs 6 billion as GoP equity in Discos through Power Holding Private Limited (PHPL) for payment of Debt Service Liability (DSL) of Syndicated Term Finance Facility (STFF) which was still in balance.
The sources said, an amount of Rs 1.222 billion is in balance against earmarked amount of Rs 1.203 million, of which Rs 200 million balance is in hand on account of electrification of villages Dera Bugti (Dera Bugti package), Rs 100 million with respect to construction of 132 kV grid station at Khan Mehterzai with allied transmission line, Rs 82.183 million on account of construction of 132 kV grid station Deep Sea Port and associated 132-kV D/C transmission line, Rs 160 million with respect to construction of 132 kV grid station at Dhadar & 132 kV grid SDT Sibbi-Dhadar transmission line , Rs 600 million on account of interconnection of isolated Makran network at Basima via Nag grid station from Panjgoor grid station and Rs 80 million with respect to construction of 132 kV grid stations Isplinji District Mastung.
Funds have not yet been released as Quetta Electric Supply Company (Qesco) has not yet opened assignment accounts in sub-office AGPR Quetta despite approval granted by the Finance Division.
According to sources, the officials of Power Division are in consultation with the Finance Division to finalise the amount to be surrendered as consensus evolves between the Divisions on the amount to be surrendered before or on May 15, a deadline fixed in General Financial Rules of the Finance Division.