The power sector circular debt has increased by Rs. 75.7 billion to Rs. 2,537 billion during the first three months (July-September) of the Fiscal Year 2023-24 as compared to the same period last year.
Payment to power producers increased by Rs. 237 billion during the first three months of FY24 and reached Rs. 1,671 billion from Rs. 1,434 billion during the same period last year. However, Power Generation Companies’ (GENCOs) payables to fuel suppliers were reduced to Rs. 110 billion during Jul-September FY24 as compared to SPLY.
During the quarter, the GENCOs’ payable to fuel suppliers was Rs. 111 billion, which has come down to Rs. 110 billion. Similarly, the amount parked in Power Holding Limited (PHL) clocked in at Rs. 765 billion during Q1 FY24 against Rs. 800 billion in SPLY.
K-Electric’s nonpayment totaled Rs. 49 billion in July-September 2023-24, compared to Rs. 48 billion in SPLY. Meanwhile, pending generation costs (QTAs + FCAs) were Rs. 60 billion in Q1, compared to Rs. 114 billion in SPLY and Rs. 250 billion in FY23.
Under recoveries for DISCOs reached Rs. 222 billion in the review period, up from Rs. 181 billion in Q1 FY23. Other adjustments (previous year recovery, etc.) totaled (Rs. 244 billion) from July to September 2023-24, compared to Rs. 304 billion in SPLY