Last month the Kyrgyz government submitted a draft bill to parliament on possible mark off of the indebted penny and fines of the Electricheskie Stantsii JSC (Electric Power Stations) and the Kyrgyz National Power Network Company and possible general debt restructuring – a payback term prolongation. The ministers’ cabinet explained the needed measure by inability of the companies to struggle against non-payers alone, through blackouts or power supply limits.
According to the ministers’ calculations the dept totals to KGS3,251,800 billion, whereof 2,180,700 billion is the Electricheskie Stantsii JSC’s debt, and 1,089,100 billion – the Kyrgyz National Power Network Company.
Originally the government asked for the 25-year payback term, with a 3-year grace period, however the parliament committee on subsoil resources and fuel-energy complex cut this term down to 10 years and offered a 2% per annum payments.
The total amount of penny and fines to be marked off is 1.370,200 billion soms.
However, according to the decision of the Kyrgyz parliament committee on subsoil resources and fuel-energy complex as of December 9, 2008 it is suggested to mark off the debts of energy consumers to the power distributing companies, financed by the republican and local budgets as well as economic agents, providing people with drinking water, for untimely pay for energy consumption.
The draft bill does not mention the total amount to be marked off.
The draft bill is passed for further consideration to the parliament committee on economy, budget and finance.
