Power sector recoveries stand at 93 pcin 2015 Asif

ISLAMABAD: Minister for Water and Power Khawaja Asif on Monday said that 2015 remained a good year for the power sector as the total recoveries from consumers stood at 93 percent against 88 percent last year.The minister in a statement here, said that in December maximum recoveries were made bringing the annual recoveries to 93 percent resulting in a benefit of Rs 56 billion on this account only.The minister said that the losses also went down from 19per cent to 17.9 per cent during the said period resulting in a 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 were 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.