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IPP's circular debt surges to Rs 173 bln, NA told

Wednesday, 26 February 2014   18:11:20

IPP's circular debt surges to Rs 173 bln, NA told
     ISLAMABAD, Feb 26 (APP): State Minister for Water and Power Chaudhry Abid Sher Ali Wednesday told National Assembly that the outstanding amount of circular debt of the Independent Power Producers (IPPs) has surged to Rs 173 billion up to Jan 31, 2014.
     In a written reply to the questions of legislators, he said power sector payables on Jan 31 were Rs 246 billion whereas its receivables from consumers were Rs 491 billion. Majority of the receivables are from private consumers Rs 326 billion, from government (federal provincial) Rs 125 billion and from KESC Rs 41 billion (without markup).
       Smart meter system would be introduced for strengthening monitoring and checking over billing in power sector.
      Responding to a question he said approximately 20 million tones coal would be imported per annum after commissioning of 6600mw Gadani Power Project.NEPRA was in process of working on upfront tariff of power projects at Gadani.