ECC Decision to release subsidy heartening for Karachi: KE
Karachi: K-Electric welcomes the Economic Coordination Committee’s (ECC) decision to facilitate the power utility through advance provision of PKR 26 billion as subsidy. Provision of this amount will off-set a portion of the KE’s ballooning receivables which are due to it from the Federal and Provincial Government and which have now crossed PKR 240 billion. CEO K-Electric, Moonis Alvi, hailed the ECC’s decision, “KE’s foremost priority during the COVID-19 crisis is to ensure that Karachi remains powered up and that the most economically vulnerable customers are provided relief through uninterrupted power supply and deferred due dates including the deferral of the Industrial Support Package (ISPA) adjustment for industries. Both of these have obviously affected KE’s cash flows which were already strained due to the growing receivables due from various public sector entities. The ECC decision will alleviate KE’s financial position to some extent and will enable us to continue serving our customers.” The power utility has extended the due date for bills below PKR 4,000 to April 10, 2020 and for all other customers including industrial and commercial, the due date has been extended till April 7, 2020. To further facilitate customers who are mandated to stay at home during the crisis, KE has also strengthened its online customer service platforms and ensured the availability of alternate payment portals including mobile banking, Easy Paisa, Jazz Cash or ATMs. Critical centers such as power stations and load dispatch centers continue to stay operational with essential staff to provide uninterrupted power to the citizens of Karachi. Annual preventive maintenance (APM) activities have also been suspended until further notice. The power utility is committed to standing by Karachi and ensuring uninterrupted power supply to its over 2.8 million customers.