Cash-starved Hesco’s receivables shoots up to Rs56.6bn
ISLAMABAD: The federal and provincial government as well as private consumers owe Rs 56.6 billion to Hyderabad Electric Company Limited (Hesco), which is already facing financial crunch due to higher than Nepra allowed transmission and distribution losses, less recovery of billed amount and insufficient tariff differential subsidy.
A meeting of the Senate Special Committee on Energy was provided details of Hesco’s financial problems and a copy obtained by Business Recorder revealed that transmission and distribution losses of Hesco are as high as to 29.1 percent. The gap between billed amount and recovery amount stands at Rs 6.4 billion as opposed to Rs 2.6 billion in 2012-13.
Published in Business Recorder, 20th July, 2018