Archive for category Finance
PEPCO unable to recover Rs 63 billion dues from last year
Posted by K. Shahzad in Finance on September 19, 2011
Pakistan Electric Power Company (PEPCO) was unable to the recover Rs 62.9 billion Rs last year against amounts which were billed to its consumers. This amount added to the circular dept and will have an impact on the electricity consumers who actually pay their dues regularly.
Such unpaid dept contribute to the devalue an organization and such thing happened in financial year 2010-2o11. PEPCO was able to make some old recoveries but this Rs 63 billion of un-recovered amount is finally going to impact the household consumers of electricity, who are already mostly paying their bills regularly.
Circular Dept and line losses are the biggest problems of PEPCO which ultimately contribute to the increasing load-shedding which electricity consumers have to face. Circular dept of PEPCO already crossed 301 billion and increasing at ironical pace, all impact of this will be on people of Pakistan.
Reason for these recoveries not being done on time and increasing circular dept is told as their is no one in charge of finances at PEPCO and a very important position in this regard is vacant. Then again the “Ministry of Water and Power” have to appoint someone on that position but we are just witnessing another case of negligence from current administration of this country.
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Paypal’s availability in Pakistan
Posted by K. Shahzad in Economy, Finance, National on January 9, 2010
Paypal is an online merchant, an e-commerce network help people in paying each other online and withdraw money to their bank accounts. It is very easy to use and can be easily integrated with websites and also can be used by professional. Now this network is most widely used in the world and no other even come closer.
Problem is Paypal still need to list Pakistan in the list of countries who can use this service. Pakistanis now suffering much from it. For IT services online most people like to pay professionals via paypal but due to they didn”t contracted with Government of Pakistan and also Government of Pakistan done no effort in this regard Pakistan is missing lots of potential money inflow. PayPal accepts accounts from lots of less developed countries than Pakistan, even India got able to get the enlisted on the accepted countries on PayPal but our government or finance ministry have not even thought of it.
People who are suffering most are the IT professionals, Marketing firms, e-commerce businesses, online service providers like hosting companies, website and blogs owners etc. If Government do something about that it would be very much good in favor of people of Pakistan, on other hand PayPal concerned must also think about it, as they are loosing much of revenue by not listing Pakistan.
Moneybookers.com is also an alternative, but they are not too big as paypal also used very much less than them. But if moneybookers.com can do that, why don’t PayPal. An effort has to be made in this regard by concerned authorities. If Indians can use this service than we also need to get on the list, also it is much in interest of our development.
Hope my this post reaches to some authorities and makes much of difference. Also hope that things get much better here in Pakistan too.

