As Managing Director appeals to defaulters to pay up debts
MASERU – The Lesotho Electricity Company (LEC) has lost close M21 million to vandalism this year alone, according to the company’s chief managing director Mohato Seleke.
Seleke revealed this week in a media briefing to provide feedback to the public on the company’s financial position, and challenges ahead. Despite this massive loss, the company’ according to Seleke requires M630 million to buy electricity for national consumers this year.
Since Lesotho does not generate its own electricity, it buys electricity from South Africa and Mozambique. “This year LEC has to buy electricity worth of M630 million, over 90 percent of that money goes to those two outside countries.”
The utility company finds itself in this dire position while it is owed an estimated M265 million, M90 million of that by prepaid costumers, M175 million post-paid costumers – government also has about 50 percent to settle in the entire amount the LEC is still chasing in bad debts.
Mid-February LEC kick-started an exercise to retrieve all its debts and from the M175 million owed by pot-paid customers M95.6 million has been recovered. “When the LEC fails, the entire economy is going to fail, so edge each and every person to comply and pay up their debts, to avoid being disconnected,” appealed Seleke.
Having mounted a massive campaign against the vandalism of its properties, in close cooperation with the police, the LEC continues to remind all potential vandalisers that any person who will; be found tampering with its equipment will be liable to a M15 000 fine or a six years jail term.