The ruling party of Pakistan will do its people a great favour if, alongwith giant strides made by the country in the area of economic development and progress as the government routinely claims in the advertisements released by it, some facts related to the country’s debt-burden and to the power bill are also advertised.
The country’s power sector receivables have gone beyond the stunning figure of Rs 684 billion— the highest ever in our history— and this despite 27 pc cut in generation costs due to decline in the oil prices in international market.
On top of that, the amount of the payables of the power sector also has shown a mindboggling surge of 44% to Rs 300 billion on June 30, 2016. This figure was Rs 207 billion three years ago, despite Rs 480 billion paid by the government to power producers and fuel suppliers.
Receivables include amounts outstanding against power sector consumers, and recoverable by the distribution companies. The payables are those amounts that are owed to the IPPs (Independent Power Producers) the fuel suppliers, and the WAPDA.
All these figures have been reported by PEPCO (Pakistan Electric Power Company) — an umbrella organization of all public-sector power companies.
These figures are quite disturbing— considering the fact that there has been quite a massive fall in the prices of oil in the world market— and this benefit has been passed on to the consumers only partially.
Where has the money gone? It may be a story, as much of misgovernance as of calculated theft.
