The Korea Electric Power Corporation (KEPCO) has received a total payment of Rs. 57 billion on the selling units at a cost of Rs. 19.5 rupees per unit.
This was revealed by National Electric Power Regulatory Authority (NEPRA) officials at a session of the Senate Standing Committee on Power chaired by Senator Saifullah Abro.
The company has also been made the variable payment but no capacity payment was made after its tenure expired, the NEPRA explained.
The committee also discussed matters pertaining to the permission given for extension of the KEPCO contract up to October 2022.
“In what capacity an extension to KEPCO was granted [sic] and why the transactions have not been blocked [sic] on the expiry of its tenure?” Senator Abro asked.
The NEPRA Vice-Chairman briefed the committee that regular correspondence on the issue was held from July 2021 to January 2022.
The committee chairman inquired about the total transaction made to KEPCO after the expiry of its tenure, and the committee was informed that a total payment of Rs. 57 billion rupees has been made to the corporation, along with the variable payment, but no capacity payment was made.
The NEPRA revealed that the KEPCO has been given minimal payments with strict tariff rules on the take-on-pay method and no capacity payment.
The agenda of the meeting also included ‘The Regulation of Generation, Transmission and Distribution of Electric Power (Amendment) Bill, 2021’ and other issues of public importance.
The committee also observed that Pakistan’s electricity problems cannot be resolved if the Power Division works in a lax and non-serious manner.
Senators Fida Muhammad, Saifullah Khan Nyazee, Sana Jamali, and Bahramand Khan Tangi attended the meeting, besides representatives of the NEPRA.