Srinagar, Apr 21 (KNO): The government on Friday said that it has collected a revenue of Rs 1550 crore in the financial year 2022-23 in the Valley.
An official in the Kashmir Power Distribution Corporation Limited (KPDCL) while divulging the details to the news agency—Kashmir News Observer (KNO), said that it has collected Rs 1,550 crore revenue for the financial year 2022-23 against the collection of Rs 1,385 crore in the previous financial year 2021-2022.
It is for the first time that the KPDCL has been able to recover huge amount, which according to the officials will help in reducing the deficit.
The official said that the revenue collection is increasing with each passing year as several measures have been taken to ensure that the collection is increasing to meet the needs.
“We are expecting further increase in the revenue collection for the next financial year 2023-24,” he said.
Pertinently, Kashmir Power Development Corporation Limited (KPDCL) has initiated several measures, including disconnecting services to defaulters, to reduce the deficit.
The officials had said that as far as KPDCL is concerned, it has the highest AT&C losses in the country.
The J&K government purchases electricity worth Rs 7,500 crore every year and recovers only Rs 3,500 crore, reports quoting the Chief Engineer said—(KNO)