March 27, 2023
Pakistan Technology

Task force reviews payables and receivables between K-Electric and federal government

A task force created by Prime Minister Shehbaz Sharif is examining the issue of payables and receivables between K-Electric and the federal government in order to reconcile the accounts, according to a statement from KE on Friday.

The outstanding payable amount owed by K-Electric to the Central Power Purchasing Agency (CPPA-G), as reported in the circular debt management plan, stands at Rs. 349.4 billion, of which Rs. 140 billion represents disputed mark-up on government claims, according to a KE spokesperson.

The spokesperson added that the task force, which is headed by Shahid Khaqan Abbasi, has begun reconciling the government’s dues owed to KE.

KE is owed a total of Rs. 486 billion in tariff differential subsidy (TDS) claims and other amounts by various government entities. As of December 2022, the net amount owed to KE on a principal basis stood at Rs. 80 billion.

The task force is also responsible for overseeing the signing of agreements between KE and government entities to facilitate the payment for power purchases from the national grid and the release of TDS.

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