Electricity-distribution companies are getting in deeper trouble financially mainly as various state entities dodge payment of overdue power bills, officials said.
The distribution agencies and companies have failed to collect defaulted bills worth Tk 15.55 billion from different state-run and autonomous agencies despite repeated reminder, a senior official of the power division said.
"Newer bill defaults are being added up to the old dues, thereby causing the unpaid amounts to go ballooning," he added.
He noted that it is not possible to supply quality electricity if the arrears are not paid in time.
The power division of late has taken some measures to collect the dues, sources concerned in the power development board said.
The authorities concerned will issue notice three to four times to the defaulters, including some government ministries, in order to collect the outstanding bills.
Besides, senior officials of the distribution agencies and companies will also pursue the matter in various ways to realise the bills, including discussion with state-run offices of district and upazila levels, they said.
As of March 2016, the outstanding bills of different state-run agencies stood at Tk 15.55 billion, according to the power division data.
The government provides a significant amount of subsidy to generate and supply electricity uninterrupted every month, as two ends do not meet.
Average cost of per-unit electricity is Tk 6.54. Wholesale price of per unit is Tk 4.67, that is, Tk 1.87 less than costing price, the data mentioned.
The authorities concerned are trying to recover the dues with flexibility but they do not pay. "We have taken initiative to collect the dues," the power division official told the FE Sunday.
Presently, the government purchases electricity at higher prices from independent power producers, rental and quick- rental power plants and import it from India. This power is sold at lower prices to bulk consumers, the official said.
As a result, the BPDB incurs a significant financial loss every month. The government provides the board with financial assistance against the loss, he mentioned.
The board received Tk 12.37 billion as subsidy during the period between July and October of the current financial year.
Providing some Tk 15.57 billion as subsidy to the country's private plants during the period between November and March of the current FY is in the process.
The amount of losses stood at Tk 4.76 billion and over Tk 5.06 billion in April and May respectively of the current FY. The mount of loss might stand at Tk 5.06 billion in June 2016.
The BPDB is heavily burdened with outstanding debts of Tk 254.21 billion owing to costly electricity generation for eight years till 2014, the power division data showed.
The power board received Tk 238.43 billion in loans from the finance division to meet the deficit between 2006-07 and 2013-14 fiscal years.
Monowar Islam, Secretary at the Power Division, could not be reached despite several attempts over phone for taking comment on the power-pricing and bill-default situation.
© 2024 - All Rights with The Financial Express
