PSM hasn't paid electric bills since 2018, more than MVR 120 million overdue

State media Public Service Media (PSM) has not paid any electricity bills since 2018 and currently have over MVR 100 million in pending bills, revealed State Electric Company (STELCO) yesterday.

The company detailed that the overdue bills start from May 2018.

STELCO's Managing Director Hussain Fahumy told local media outlet 'Mihaaru' in an interview that the amount would exceed over MVR 120 million.

"For sure would not be less than MVR 100 million. Very sure it's over MVR 120 million. What if we get that money and do business," Fahumy expressed his concerns.

He added that STELCO does not wish to cut off electricity anywhere because they want to establish a system where the pending amount can be paid in instalments.

"We want to bring them to our table and make them pay the total amount even if in instalments. Cutting off electricity is not a solution. [We] want to give them an opportunity, a mechanism for the places from where we haven't received payments," Fahumy explained.

While it has now been revealed the PSM has not paid its bills in six years, STELCO also revealed yesterday that the company is yet to receive over half a million Rufiyaa in bills from various guesthouses in the country.