Home / Knowledge / News / Textiles / FESCO settles billing row with Galaxy Textile Mills
FESCO settles billing row with Galaxy Textile Mills
31
May '12
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.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search