Lahore Electric Supply Company (LESCO) has ended the instalment facility for the current electricity bills, citing sources, ARY News reported on Friday.
Sources told ARY News that the new computer program has not provided the facility of the payment of the current electricity bills in instalments. In Lahore, electricity consumers could only get the instalment facility on delayed payments once in six months.
It was learnt that the bank will only accept the computerised instalment bill for receiving the payments. Sources said that the decision was taken to ensure 100 per cent recovery of the monthly bills.
Prior to the new decision, the electricity consumers could get the instalment facility on current bills for the whole year. Sources said that LESCO took the step toward privatisation of the company.
Earlier in the day, Finance Minister Miftah Ismail admitted imposing fixed GST on traders via electricity bills was a 'mistake'.
In his address to an event at the Pakistan Stock Exchange (PSX) in the Karachi, Miftah, the government was only demanded tax of Rs36,000 per anum from the traders, but admitted his mistake that the decision was taken in haste.
'We should have done homework before imposing GST on bills,' Miftah Ismail said and added that he was given wrong advice from his team members.
The finance minister said the government was planning to receive Rs42 billion tax but after the relaxation of GST collection to the small traders, the government has estimated collection of Rs34 to 35billion.
It may be noted, after the pressure from countrywide traders over the fixed tax regime, the federal government withdrew its decision of collecting general sales tax (GST) on electricity bills for one year.
The development came after successful negotiations between the government team and traders. PML-N Leader and Federal Minister for Finance and Revenue Miftah Ismail and Federal Minister for Power Khurram Dastgir Khan hold talks with the business community.