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FESCO settles billing row with Galaxy Textile Mills
31 May '12
1 min read
Faisalabad Electric Supply Company (FESCO) has settled the long standing dispute over billing amount with Galaxy Textile Mills, Jhang, without furthering any undue concessions, FESCO has announced.
FESCO said it is one of the best power distribution companies, and has been meeting all the targets set by the National Electric Power Regulatory Authority (NEPRA). This could only be achieved with total consumer satisfaction and when full recoveries are made, the company said.
FESCO will recover outstanding dues of Pk Rs. 70.246 million from Galaxy Textile Mills in eight quarterly instalments. The instalment amount begins with Pk Rs. 2.5 million, and then increases to Rs. 5 million, Rs. 7.5 million and lastly Rs.10 million.
The electricity supply company said the quarterly instalments are arrived at after including late payment surcharge and interest at the prevailing bank rates.
FESCO has obtained post-dated cheques towards instalment amounts, and the power supply to the textile manufacturing unit would be liable for disconnection if the company defaults in paying any instalment.
The billing row was resolved in adherence with the FESCO/ Pakistan Electric Power Company (PEPCO) rules, and was approved by the Board of Directors of FESCO, Faisalabad.
FESCO said it is one of the best power distribution companies, and has been meeting all the targets set by the National Electric Power Regulatory Authority (NEPRA). This could only be achieved with total consumer satisfaction and when full recoveries are made, the company said.
FESCO will recover outstanding dues of Pk Rs. 70.246 million from Galaxy Textile Mills in eight quarterly instalments. The instalment amount begins with Pk Rs. 2.5 million, and then increases to Rs. 5 million, Rs. 7.5 million and lastly Rs.10 million.
The electricity supply company said the quarterly instalments are arrived at after including late payment surcharge and interest at the prevailing bank rates.
FESCO has obtained post-dated cheques towards instalment amounts, and the power supply to the textile manufacturing unit would be liable for disconnection if the company defaults in paying any instalment.
The billing row was resolved in adherence with the FESCO/ Pakistan Electric Power Company (PEPCO) rules, and was approved by the Board of Directors of FESCO, Faisalabad.
Fibre2fashion News Desk - India
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