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KESC says govts owe it Rs76bn

September 05, 2012

-File Photo

ISLAMABAD: The Karachi Electric Supply Company has urged the government to resolve the issue of circular debt by directing the provincial and federal governments to clear around Rs76 billion owed by them.

A spokesman for the KESC said the money could be used to adjust the amount payable by the company to the SSGC and National Transmission and Dispatch Centre (NTDC).

He said although the government might be in principle in agreement to make the adjustments to end the confusion, it had not yet taken any concrete step.

“The delay in these settlements is not only creating cash flow issues but also leading to a wrong perception about the KESC’s payables which affects the company’s credibility,” he said.