Wednesday, March 17, 2010
KESC owes Rs115b to pay
8:37 PM | 
Posted by
Unknown
KARACHI: The Karachi Electric Supply Company (KESC) has to pay at least Rs115 billion in contrast with Rs50 billion which it is to receive, according to financial results of the Company during July to December 2009.The Company suffered a pure deficit of Rs8.88 billion during Jul-Dec 2009; while, the financial expenditures rocketed up 125 percent to Rs4.47 billion in the same period.
According to a Jahangir Siddqiui’s analyst, the KESC owes Rs115.16 billion to various departments in Jul-Dec 2009; contrarily, it is to receive only Rs50.56 billion.
The government and the KESC entered a deal in 2009, under which the Company will issue the shares worth $361 million in the next three years; of them, shares worth $206 million have been issued to Abraaj Capital.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment