IMF: “NEPCo” Estimated to Show JOD7m Excess in 2021 Budget

تم نشره في Wed 21 September / Sep 2016. 12:00 AM
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AMMAN —Al Ghad— The International Monetary Fund (IMF) estimated the operational Budget of the National Electric Power Company (NEPCo) to include an excess of close to JOD7 million by the year 2021; the Company cited a JOD233 million deficit last year in 2015.

The IMF also estimate NEPCo to start losing money again over the second half of 2016, at a loss expected of JOD53 million, after the actual figures showed the Company over the first half made in total an operational profit of JOD58 million, closing at a gross operation income of JOD5 million, should the Fund’s loss estimates pan out.

The budget constructed also shows the national electricity company has begun collecting taxation on liquidated gas sourced in, as a revenue source for the Company.

By the end of 2017, the IMF’s budget estimates for NEPCo show a JOD2 million excess, with an expected 37 per cent increase in sales over 6 years, compared to last year’s figures, up to JOD2.063 billion, from 2015’s closing sales figure at JOD1.507 billion.

Accordingly, expected sales by the Company for the year 2016 stand at JOD1.537 billion.

NEPCo expenditures are also expected to increase by 18.2 per cent, to JOD2.056 billion by 2021, with JOD1.739 billion cited in expenditures last year, and estimated JOD1.532 billion and JOD1.68 billion for years 2016 and 2017.