Printer Friendly

Unpaid dues to Ministry of Electricity register EGP 89bn at end of August.

Minister of Electricityand RenewableEnergy Mohamed Shaker issued strict instructions to all electricity distribution companies' heads and ministry officials to not speak about the unpaid dues to government agencies and institutions.

Government sources said that the minister issued these instructions after the value of the unpaid dues to the government agencies and institutions was falsely reported. Additionally, there is a committee to resolve financial entanglements among ministries, which is working on the settlement of debts at the moment.

The sources told Daily News Egypt that the total late dues from consumers of household, commercial, and governmental institutions, and sovereign entities increased to EGP 89bn in August.

The sources explained that the total dues of governmental institutions, including a number of ministries and sovereign and administrative agencies, reachedEGP 66.2bn, while the total late dues of consumers of household and commercial institutions, and other uses, amounts to EGP 22.9bn.

The list includes the indebtednessof the nine electricity distribution companies of household and commercial consumers and other uses.

Outstanding dues to the North Cairo Electricity Distribution Company register EGP4bn, while late dues to the South Cairo Electricity Distribution Company reached EGP7bn.

The outstanding dues to the Alexandria Electricity Distribution Company are estimated at EGP640m, while the unpaid dues to the Canal Company for Electricity Distribution (CCED) reached EGP2.3bn.

The accumulated dues to the North Delta Electricity Distribution Company (NDEDCO) amounts to EGP3.2bn, and the indebtedness of households and other uses to the South Delta Electricity Distribution Company reached EGP 850m.

Dues owed to the Beheira Company for Electricity Distribution total EGP 2bn.

Total late dues owed to the Middle Egypt Electricity Distribution Company (MEEDCO) reached EGP 1bn, while total dues to the Upper Egypt Electricity Distribution Company reached EGP 2bn.

[c] 2016 Daily News Egypt. Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2016 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily News Egypt (Egypt)
Geographic Code:7EGYP
Date:Sep 26, 2016
Words:302
Previous Article:Recovery of stock market depends on stabilising US dollar at EGP 12: Beltone Financial.
Next Article:Afreximbank lends ETHYDCO $75m facility to support its expansion.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters