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Power Sector Entities Owe Rs132b to SNGPL, SSGC

Islamabad - The outstanding dues of Sui Northern Gas Pipeline Liminterd (SNGPL) and the Sui Southern Gas Company (SSGC) against power sector entities have surpassed Rs132 billion.

READ MORE: Kashmiris protest in front of UNHRC against Indian oppression Out of the total outstanding dues, Rs 53.71 billion is principal amount while Rs 78.62 billion is Interest. The receivables of Pakistanís two state-owned gas companies against Independent Power Plants (IPPs), Wapda and K-Electric have surpassed 132.323 billion, said the official documents available with The Nation.

According the documents the total receivables of SNGPL as of as of February 1, 2019 were Rs 35.700 which includes the principal amount of Rs 20.967 billion and the interest of Rs 14.733 billion. Similarly the total receivable of SSGC is Rs 96.623 billion which includes RS 32.740 billion principal amount and the remaining Rs 63.883 billion was interest. Ironically the interest of SSGC against K-Electric and Wapda is almost double than the principal amount.

Both the SNGPL and SSGC have already informed the government that the outstanding dues of hundreds of billions of rupees was weakening their financial health and making their operations difficult.

According the documents K-Electric owes the highest amount of the Sui companies outstanding dues which is Rs 90.078 billion to SSGC, which includes Rs 29.652 billion principal amount and Rs 60.436 was interest, said the documents. Water and Power Development Authority/PEPCO which owes Rs 17.1 billion to the SNGPL and SSGC, followed by the IPPs.

READ MORE: Japan to support Japanese companies in increasing investment in Pakistan The documents said the Water and Power Development Authority/PEPCO owes Rs 10.68 billion to SNGPL and Rs 6.517 billion to SSGC.

In IPPs Liberty Power owes the highest amount of Rs 3.986 billion to SNGPL,which includes Rs 2.254 billion principal and Rs 1.732 billion is interest. Engro Energy owes Rs 2.187 billion to SNGPL which includes Rs 1.847 billion principal amount and Rs 340 million interest. Orient Power, another IPP, owes Rs 2.696 billion to SNGPL which includes Rs 1.021 billion principal amount and Rs 1.675 billion interest. The newly established RLNG based power plant of Haveli Bahadur Shah owes Rs 1.6 billion which is the principal amount and doesnít include the interest .Similarly RLNG based Baloki Power plant also owes Rs 1.182 billion to SNGPL which is only the principal amount and is not included the interest.Saphire Electric owes Rs 802 million to SNGPL which includes Rs 397 million principal amount and the remaining is interest. Colony Mill owes Rs 315 million and Said power owes Rs 546 million to SNGPL.

 
   
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