Drop in Recovery (%) of DISCOs
DISCOs recovery (%) during FY 2021-22 was 90.5% as compared to 97.3% percent during FY 2020-21 ( ~7% less).
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The National Electric Power Regulatory Authority (NEPRA) has released its State of Industry Report 2022, which has highlighted 'Circular Debt' as the biggest challenge for Pakistan as it is hampering the power sector.
According to the report, losses, recoveries, underutilization of assets, running defaulters, and delayed payment of subsidies contribute to circular debt. The financial impact of running defaulters is around PKR 700 million, which is alarming as these consumers are still connected with the system and no action has been taken to recover their billed amount from these defaulters.
The governance issues in DISCOs need to be addressed to reduce these losses, which in turn are increasing the circular debt. However, in this regard, no significant improvement has been seen on the part of DISCOs.
GRAPHICS OF THE DAY
A comparison of recovery percentages of DISCOs over the last two financial years
Pakistan's circular debt has remained above PKR 2 trillion during the past three financial years
INSTAGRAM POST
FBR exceeded the tax collection target for the first quarter of FY 23 during September 2022 by 1.6% — www.instagram.com
⚫ The FBR collected net revenue of PKR 685 billion during September 2022 against the target of PKR 684 billion
⚫ The net revenue collection represents a growth of about 27% during September 2021
⚫ Cumulatively, from July 2022 to September 2022 (Q1 FY 23), FBR has collected PKR 1,635 billion against a target of PKR 1,609 billion (exceeding the target by PKR 27 billion or 1.6%)
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