ISLAMABAD: In a bid to keep circular debt at Rs300 billion, the power distribution companies (Discos) have deposited Rs52 billion in the accounts of Central Power Purchasing Agency (CPPA).
This was revealed at a public hearing, presided over by Nepra Chairman Brig (R) Tariq Sadozai, on a petition of Islamabad Electric Supply Company (Iesco) for a multi-year tariff held in the Nepra headquarters.
During the hearing, former member Energy Planning Commission Shahid Sattar informed the forum that as per order of Ministry of Water and Power, Discos deposited an average of Rs 52 billion in the account of CPPA to cap circular debt at Rs 300 billion. The Nepra chairman asked Nepra, Iesco and CPPA authorities that copy of directive issued by the Ministry of Water and Power be submitted in Nepra.
Brig Tariq said that Discos do not have transformers and meters and money of distribution margin has been deposited in CPPA account. Payment was made to IPPs from extra recovery of Discos.
