The power sector total receivables have risen to Rs577.330 billion in the first quarter (July-September) of this fiscal year, as recoveries dropped to 80 per cent, the sector recovering only Rs265bn against billing of Rs329bn.
The sector started the year with a carry-over default of Rs512bn, but has added Rs65bn to the tally in the next three months, at a rate of under Rs21.66bn a month, or Rs722 million a day.
By the end of June last year, the recoveries were at 89.70pc, which dropped by 10pc in the next three months.
According to the latest data compiled by Pepco, the sector billed Rs101bn in July, but recovered only Rs79.80bn. In August, its billing touched a new peak of Rs115.70bn (many believe because of massive over-billing but the ministry insists it happened due to addition supply of electricity) and it received only Rs93.80bn.
In September, the billing came down to Rs122.60bn and so does the recoveries; at Rs91.40bn. Thus, in three months, the total billing stood at Rs329.30bn, with recoveries falling to Rs265bn, leaving a gap of Rs64.30bn.
Out of Rs65bn added to the receivables, Rs40bn default has come from the private sector. Its dues (commonly known as private default) have swelled from Rs355bn by the end of June to Rs395bn by the end of September.
