Power-Theft Crackdown A Big Failure? Circular Debt Spikes By Rs. 301 Billion in 4 Months

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The power sector circular debt has increased by Rs. 301 billion to Rs. 2,611 billion during the first four months (July-October) of the Fiscal Year 2023-24.

The debt stock increased by Rs. 74 billion month-on-month (MoM) during October 2023 compared to a decline of Rs. 13 billion MoM in September (Stock: Rs. 2,537 billion).

Payment to power producers increased by Rs. 316 billion during the first four months of FY24 and reached Rs. 1,750 billion from Rs. 1,434 billion reported in June 2023. However, Power Generation Companies’ (GENCOs) payables to fuel suppliers were reduced to Rs. 96 billion during Jul-October FY24 as compared to Rs. 111 billion by June FY23

During the 4 months, the amount parked in Power Holding Limited (PHL) clocked in at Rs. 765 billion during 4MFY24 with no change in the review period.

K-Electric’s nonpayment totaled Rs. 43 billion in July-October 2023-24. Meanwhile, pending generation costs (QTAs + FCAs) were Rs. 110 billion in 4M, compared to Rs. 250 billion posted by the end of FY23.

Under recoveries for DISCOs reached Rs. 165 billion in the review period, down from Rs. 236 billion in June FY23. Other adjustments (prior year recovery, etc.) totaled (Rs. 147 billion) from July to October 2023-24, compared to (Rs. 447 billion) determined at the end of June FY23.

  • When you have old school arrogant and incompetent BABAY sitting on higher posts what else you can expect. 90% of the DISCOs staff involved in corruption one way or another. Do some sting operation and listen to their disgusting behaviour with people from lower to top officials. I had to pay 120k for net metering and no one felt ashamed asking fearlessly.

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