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4-Traders Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Pakistan State Oil Company Limited    PSO   PK0022501016

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Pakistan State Oil : Power sector receivables reach Rs730b

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10/01/2016 | 04:54pm CEST

Power sector receivables have reached about Rs730 billion. Of these Rs330 billion are pending against the provinces while Rs350 billion to Rs400 billion against domestic consumers.

The information was shared by Minister of State for Water and Power Abid Sher Ali while responding to the queries of members in the Senate on Friday. According to the break up given by the Minister, Sindh tops the province against whom the dues stand at the highest Rs71.98 billion.

Minister of State for Water and Power Abid Sher Ali said that no power station is closed today due to non-payments, which in the past forced people to face prolonged power outages. He said that payments to Pakistan State Oil are also being made on regular basis. He said some improvement has been made in recoveries but still a lot more needs to be done to get the dues from provinces.

The Minister of State that the government is introducing smart metering system in order to avoid over billing. He said that over the last three and half years, line losses have also witnessed a decline.

Abid Sher Ali said the process of land acquisition for Diamer Bhasha dam is nearing completion and work on the mega project will be started next year.

“A master plan has been prepared to promote hydel projects to eliminate energy crises in the country. He said the construction of mega reservoirs has become imperative in order to avert wastage of water.”

He said under the 18th Amendment, the provinces are also authorized to carry out small hydel projects. He said that government is also facilitating private investors for promoting hydel power projects on build-own-operate-transfer (BOOT) basis. At present private power and infrastructure board is facilitating sixteen hydel power projects having cumulative power generation of capacity about 6350MW for development in private sector. Out of these, three projects of 2690MW are being processed under the frame of China-Pakistan-Economic-Corridor.

Minister of State for Petroleum and Natural Resources Jam Kamal told the House that the domestic oil production is meeting 20 to 25 per cent requirements of the country while the remaining volume is being imported from different countries. He said that the government is also focusing on switching over to high grade fuels in order to enhance efficiency in vehicles which will also help to protecting the environment.

(c) 2016 Pakistan Observer. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( PKR)
Sales 2017 807 378 M
EBIT 2017 31 000 M
Net income 2017 15 350 M
Debt 2017 -
Yield 2017 3,30%
P/E ratio 2017 7,08
P/E ratio 2018 6,22
Capi. / Sales 2017 0,14x
Capi. / Sales 2018 0,11x
Capitalization 112 478 M
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 481  PKR
Spread / Average Target 16%
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Managers
NameTitle
Imran ul-Haque Chief Executive Officer & Managing Director
Mujahid Eshai Chairman
Yacoob Suttar Chief Financial Officer
Mohammad Naeem Malik Non-Executive Director
Umar Azim Daudpota Non-Executive Director
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