Associ­ation claims pendin­g amount has increa­sed to Rs205b as of Novemb­erLAHORE: The Independent Power Producers Advisory Council (IPPAC) has urged the prime minister to resolve a serious financial crisis independent power producers are facing on account of large overdue receivables from the National Transmission and Dispatch Company (NTDC)/Central Power Purchasing Agency. “This is in continuation to our previous letter dated November 15, and as highlighted in the previous letter, the overdue amounts payable to the 20 members of the IPPAC is still outstanding and growing every month,” said the IPPAC in a communiqué on December 8, 2017. Pakistan’s power sector — how to eliminate the circular debtThe letter further added that the Ministry of Energy has not been able to resolve these issues. “The GST rate anomaly (20% on furnace oil versus 17% on electricity) is unresolved for over three years now and despite repeated follow ups, no attention has been paid to this issue either,” it stated. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune December 10, 2017 04:18 UTC