LAHORE - The Water and Power Development Authority (WAPDA) owes Rs 10.05578 billion to the Independent Power Producers (IPPs) and oil suppliers. This amount is termed as late payment charges and is in addition to the out standing payment of Rs. 71.827 billion, sources concerned told The Nation here Tuesday. The sources said that the outstanding dues of the IPPs, fuel suppliers and others touched the mark of Rs 71.827 billion from the previous due payment of Rs 60 billion. The break-up indicates that IPPs amount added up to Rs 54.184 billion against Rs 28 billion, fuel suppliers dues swelled up to Rs 12.175 billion from Rs 8.11 billion whereas other immediate required payment surged up to Rs. 46.068 billion from Rs 24 billion. The sources said that the total immediate overdue payment required by Wapda was counted as Rs 60 billion, which would be arranged later by the company. It is said that fuel suppliers were to be given Rs 8 billion, IPPs, Rs 28 billion and other payment in this regards was counted as Rs 24 billion. They said that the PEPCO had presented three solutions for immediate cash grant from Prime Minister of Rs 21 billion in a request of funds for oil companies, IPPs, gas companies and others. The company required Rs 33 billion within 30 days besides Rs 18 billion within next 60 days, which comes to Rs 72 billion. They said that this short term arrangement was meant to avert the hovering crises, and the finance minister asked it to come up again for formulating the plan of the government, KESC and FATA over due payments to the PEPCO. The sources said that the PEPCO could not wait till the budget, and the arrangement was intended to let the crises linger on to next two months. The statistics indicated that the 2007-2008 financial gap was being counted as Rs 48 billion. It was Rs 32 billion short visa-a-vis subsidy in the budget of fiscal 2007-08 from total subsidy requirement of Rs 57 billion. Only the amount of Rs 25 billion was included in the budget, hence, the gap of 32 billion was unbudgeted. The unbudgeted estimated fuel price indexation was counted as Rs 16 billion during fiscal 2007-08, it added. The statistics suggested that receivables from the FATA and the KESC touched the mark of Rs 106 billion. The FATA customers owed Rs 71 billion, whereas receivables from the KESC touched the mark of Rs 35 billion, it added. The utility had asked in its plea submitted to the Ministry of Water and Power that it had incurred a cash shortfall of Rs 262.239 billion, and an accounting loss of Rs 29.136 billion owing certain factors including continuation of consumer-end tariff despite the increase in the prices of gas and furnace oil, higher establishment cost due to pay revision, village electrification, non-payment of Rs. 10.87 billion by the FATA consumers and less availability of hydel energy, the sources said.