Summary The companies’ poor strategy led to the loss of 28 billion units in a year
ISLAMABAD: (Dunya News) – Power distribution companies (DISCOs) in the last year of the Pakistan Muslim League-Nawaz (PML-N) tenure inflicted Rs157 billion loss to the national exchequer and violated NEPRA laws exceeding prescribed limit.
According to the document, the losses of all companies exceeded the prescribed limit of the National Electric Power Regulatory Authority (NEPRA). NEPRA had set a target of loss of 10.2 per cent to 31.9 per cent but the losses were higher than the limit due to poor performance of the companies and inappropriate arrangements.
The companies’ poor strategy led to the loss of 28 billion units in a year, and cost national exchequer more than Rs157 billion.
According to the document, HESCO damaged the exchequer with more than Rs49 billion in a year. PESCO cost Rs29 billion, CESCO made losses of Rs19 billion and SEPCO produced losses of more than Rs37 billion.
The document stated that LESCO and MEPCO have suffered losses of over Rs7 billion, while GEPCO and FESCO has damaged the national exchequer with more than Rs3 billion.
The Power Division contended that the causes of excessive losses are illicit connections and unrealistic goals. Extended length of feeders is also one of the major causes of excessive losses.
PML-N costs Rs3841bn loss to power division in their last year
Irregularities of billions of rupees in the power division in the last year of the Pakistan Muslim League-Nawaz (PML-N) tenure has been revealed showing Rs3,841 billion loss to the national exchequer.
According to the audit report, in the fiscal year 2017-2018, PML-N conned the national exchequer by misusing government resources and violating rules and regulations. The national exchequer received a shock of Rs2,210 billion due to judicial issues of receipts and overpayments.
According to the report of the Auditor General of Pakistan, obtained by Dunya News, the mismanagement of institutions in 2017-18 resulted in a loss of more than Rs321 billion. Accidents and negligence cost the national exchequer more than Rs 327 billion.
Audit officials have recommended that the government develop a recovery plan to control circular debt. “Internal control should be improved to take an action against those involved in irregularities”, they said.
