AIRLINK 60.70 Decreased By ▼ -0.27 (-0.44%)
BOP 6.30 Increased By ▲ 0.01 (0.16%)
CNERGY 4.39 Increased By ▲ 0.06 (1.39%)
DFML 16.19 Increased By ▲ 0.33 (2.08%)
DGKC 70.20 Increased By ▲ 0.90 (1.3%)
FCCL 18.02 Decreased By ▼ -0.18 (-0.99%)
FFBL 26.50 Increased By ▲ 0.25 (0.95%)
FFL 9.25 Increased By ▲ 0.02 (0.22%)
GGL 10.30 Increased By ▲ 0.05 (0.49%)
HBL 115.00 Decreased By ▼ -2.00 (-1.71%)
HUBC 115.55 Increased By ▲ 1.07 (0.93%)
HUMNL 7.08 Increased By ▲ 0.15 (2.16%)
KEL 5.00 Increased By ▲ 0.11 (2.25%)
KOSM 5.45 Increased By ▲ 0.12 (2.25%)
MLCF 38.83 Increased By ▲ 0.33 (0.86%)
OGDC 125.61 Increased By ▲ 1.64 (1.32%)
PAEL 21.90 Increased By ▲ 0.05 (0.23%)
PIAA 12.80 Increased By ▲ 1.00 (8.47%)
PIBTL 6.22 Increased By ▲ 0.12 (1.97%)
PPL 116.50 Increased By ▲ 2.75 (2.42%)
PRL 28.36 Increased By ▲ 0.06 (0.21%)
PTC 12.25 Increased By ▲ 0.80 (6.99%)
SEARL 52.25 Decreased By ▼ -0.05 (-0.1%)
SNGP 67.70 No Change ▼ 0.00 (0%)
SSGC 11.44 Increased By ▲ 0.11 (0.97%)
TELE 8.23 Increased By ▲ 0.38 (4.84%)
TPLP 11.62 Increased By ▲ 0.04 (0.35%)
TRG 72.00 Increased By ▲ 0.19 (0.26%)
UNITY 24.05 Increased By ▲ 0.95 (4.11%)
WTL 1.35 Increased By ▲ 0.06 (4.65%)
BR100 6,773 Increased By 56.3 (0.84%)
BR30 22,903 Increased By 386.2 (1.72%)
KSE100 65,747 Increased By 420.8 (0.64%)
KSE30 22,330 Increased By 184.4 (0.83%)

ISLAMABAD: Karachi Electric (KE) has urged Power Division to expedite process of verification and release of pending Tariff Differential Claims (TDCs) as the power utility is already facing working capital issues.

In a letter to Power Division, KE’s Director Finance, Ayaz Jaffar Ahmed has cited the reference of Power Division’s letter of March 29, 2022, regarding updated status of Extension of Abolishment of Time-Of-Use (ToU) Tariff Scheme for industrial consumers, adding that benefit of Abolishment of ToU is being extended to industrial consumers in line with GoP directions including letter of April 30, 2021, which was further confirmed through NEPRA’s decision of June 17, 2021.

Accordingly, KE has extended benefit of Rs 3.890 billion to industrial consumers with respect to Abolishment of ToU Scheme for the period November 2020, to February 2022, and submitted claims to Ministry of Energy (Power Division). However, total amount remains outstanding to date.

He maintained that KE is implementing the GoP’s directions to provide benefit to consumers under different packages announced from time to time and shared a status through letter of March 14, 2022.

CPPA-G payables: PD urges ECC to adjust pending tariff claims of KE

However, delays in verification and release of Tariff Differential Subsidy (TDS), including the packages has resulted in significant accumulation of Tariff Differential Claims (TDC) balance and the balance of TDC receivable has reached an alarming level of Rs 315 billion (Feb 2022), including balance of ToU benefit, and straining the already stretched position of Company’s working capital. Further, the recent exorbitant increase in fuel prices is seriously impacting on KE’s ability to make payments for power purchases and/or fuel supplies as well as the execution of planned investment projects which are critical to bridge the demand-supply gap and for smooth and reliable supply of power to consumers.

After explaining the background, KE has requested the Power Division to expedite the process of verification and release of pending balances.

Copyright Business Recorder, 2022

Comments

Comments are closed.