KE CEO sees Rs 50 billion dues serious threat to power projects

Mushtaq Ghumman/Business Recorder/10-01-2020

KARACHI: Chief Executive Officer (CEO) Karachi Electric (KE), Moonis Alvi on Thursday said that the power utility’s unpaid receivables are a serious threat to investments in power projects in Karachi. Talking exclusively with Business Recorder, he said that K-Electric has launched an appeal for the recovery of dues of more than Rs 50 billion, pending with the government of Sindh (GoS) and other provincial entities. The appeal has been made in the interest of the city of Karachi as the stuck-up receivables pose a serious threat to continuity and reliability of supply. Receivables from different departments of the GoS have increased to around PKR 19 billion. In addition, approximately PKR 32 billion are due from the Karachi Water & Sewerage Board (KWSB). “Our demand from the government of Sindh is based on the summary it filed in the Supreme Court of Pakistan in 2016. In the summary, the Sindh government had submitted that it would start making monthly payments on behalf of KWSB against current bills and devises a payment schedule for the outstanding dues of KWSB. We have Local News
reconciled approximately PKR 28 billion with KWSB and are demanding reconciliation of the remaining amount. No payment plan has been conveyed to us so far,” he added