K-Electric defaulter of Rs130 billion: SC told

ISLAMABAD: The federal government on Monday submitted its reply to the Supreme Court in the petition filed by K-Electric, saying that K-Electric was a defaulter of Rs130 billion and it had inflicted a Rs269 billion loss on the Federation.
The court was told that K-Electric owed Rs130 billion to various government institutions, including the Federation.In its reply, the federal government stated that since 2005, the concessions given to the K-Electric had caused losses of Rs269 billion to the government.
K-Electric has the capacity to produce 2,710MWs while the demand is 2,500MWs but despite that it also took 650MWs from the national grid, the federal government stated in the reply.It was further stated that the K-Electric was a defaulter of Rs130 billion of PSO, PTV, SSGC and various other national institutions and the charges levelled on its behalf were baseless.
It said that the K-Electric was not rendering its responsibilities and its agreement with the government had expired in 2012. It said that the agreement between the government and K-Electric was also presented in a wrong manner.The government appealed to the court to reject the plea filed by the K-Electric and fine it heavily.