KIBTEK debt crisis rapidly improves

10 April, 2013

In 2009, total KIBTEK debts were TL160 million , a huge figure. Growing every year, these loans totaled TL357 million. by the end of 2012

In the face of this, EL-SEN, the electricity workers union have, over the past 4 months, been working hard to reduce the debts of KIBTEK. These workers know that the weak financial position of KIBTEK is one of the main arguments that politicians advance for its privatisation.

Stepping up the action of cutting off electricity supplies if unpaid bills were not met, has been very effective and shown dramatic results on KIBTEK’s debts.

Total debts of KIBTEK now stand at TL 253 million, down TL 104 million from the end of 2012. All this has been done in a 4 month period.

EL-SEN union head, Caglayan Cesurer said that the situation will continue to improve and that if all unpaid bills were collected, then KIBTEK would actually have no debts and cash balances of TL 200 million.

Cesurer adds that the action against unpaid bills will continue and intensify.

The current unpaid bills to KIBTEK are summarised below:

  • Government Departments: TL 40 million
  • Mosques: TL 16 million
  • BRT: TL 18 million
  • Councils: TL 108 million
  • Street Lighting: TL 110 million
  • General Consumers : TL 176 million

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