Power sector recoveries stand at 93 per cent in 2015: Asif

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ISLAMABAD, Jan 4 (APP): Minister for Water and Power Khawaja Muhammad Asif on Monday said that 2015 remained a good year for the power sector as the total recoveries from consumers stood at 93 per cent against 88 per cent last year.

The minister, in a statement here, said that in December, maximum recoveries were made, bringing the annual recoveries to 93 per cent resulting in benefit of Rs 56 billion on this account only.

The minister said that the losses also went down from 19 per cent to 17.9 per cent during the said period resulting in benefit of around Rs 12 billion.

“We are Rs 68 billion higher in revenue in 2015 despite reducing monthly tariff,” he said.

Asif said that Rs 49 billion was also saved on account of oil consumption owing to merit order generation.

He said the government also succeeded to cap the circular debt since November 2014 and kept it in the band of Rs 310-330 billion.