ISLAMABAD: Combined receivable of the Sui Southern Gas Company (SSGC) against the Pakistan Steel Mills (PSM) and K-Electric has swelled to Rs154 billion.

A sub-committee met under Khawaja Asif on the implementation on Monday.

The committee examined the audit paras of the Petroleum Division for financial year 2004-2005 to 2009-2010.

The committee was apprised that receivable of Rs54 billion against the PSM was recoverable, and Rs100 billion dues had pilled up against the K-Electric.

The committee was informed that the gas utility company was facing financial difficulties because of receivable from both. Khawaja Asif hinted that Rs9 billion was settled between the SSGCL and the K-Electric and the PSM; however, no news was published on the subject. The Managing Director SSGCL said that Oil and Gas Regulatory Authority (OGRA) allowed installation of fresh gas connections against pending applications of 2.8 million.

Copyright Business Recorder, 2020