Publication:
Tajikistan : Financial Assessment of Barki Tojik

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dc.contributor.authorKochnakyan, Artur
dc.contributor.authorBalabanyan, Ani
dc.contributor.authorMeng, Zhengjia
dc.contributor.authorVerink, Bastiaan
dc.date.accessioned2014-02-12T00:01:04Z
dc.date.available2014-02-12T00:01:04Z
dc.date.issued2013-10
dc.description.abstractThis assessment presents the analysis of the financial performance of Barki Tojik (BT), the vertically integrated national power utility of Tajikistan. The assessment is based on the financial model constructed for BT. The assessment relies on projections of BT's financial statements and aims to analyze the financial standing of the company based on its operational performance, solvency and liquidity; forecast the financial performance of the company under various investment scenarios; and assess the cost of domestic power supply. The key findings of the analysis are: 1) the 2012 average weighted billed tariff was significantly lower than the estimated cost of supply; 2) In 2012, the company had a large cash deficit to fully finance the expenses required for domestic supply, the deficit being caused due to high losses, poor collection rates and high general and administrative expenses as well as unclassified costs; 3) timely payments to Independent Power Producers (IPPs) are increasingly becoming an issue; 4) difficulties of BT to service debt will ultimately become a direct burden for the state budget; and 5) significant revenue increase will be required for BT to reach cost-recovery irrespective of long-term investment scenarios pursued.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/10/18719013/financial-assessment-barki-tojik
dc.identifier.doi10.1596/17009
dc.identifier.urihttps://hdl.handle.net/10986/17009
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectADMINISTRATIVE EXPENSES
dc.subjectAGRICULTURE
dc.subjectARREARS
dc.subjectAVAILABILITY
dc.subjectBALANCE SHEET
dc.subjectBUSINESS ACTIVITIES
dc.subjectBUSINESS PRACTICE
dc.subjectCAPITAL INVESTMENTS
dc.subjectCASH DEFICIT
dc.subjectCASH FLOW
dc.subjectCASH FLOWS
dc.subjectCASH PAYMENTS
dc.subjectCOST OF DEBT
dc.subjectCOST OF ELECTRICITY
dc.subjectCREDITORS
dc.subjectDEBT
dc.subjectDEBT FINANCING
dc.subjectDEBT HOLDERS
dc.subjectDEBT OBLIGATIONS
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICE PAYMENT
dc.subjectDEBT SERVICE PAYMENTS
dc.subjectDEFICITS
dc.subjectDOMESTIC SUPPLY
dc.subjectECONOMIC GROWTH
dc.subjectELECTRICITY
dc.subjectELECTRICITY CONSUMPTION
dc.subjectELECTRICITY DEMAND
dc.subjectELECTRICITY GENERATION
dc.subjectELECTRICITY SUPPLY
dc.subjectELECTRICITY TARIFF
dc.subjectENERGY BILLS
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY SHORTAGE
dc.subjectENERGY SUPPLY
dc.subjectEQUIPMENT
dc.subjectEXCHANGE RATE
dc.subjectEXPORTS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SUSTAINABILITY
dc.subjectFINANCING COST
dc.subjectFINANCING COSTS
dc.subjectFINANCING REQUIREMENT
dc.subjectFUEL
dc.subjectFUEL SWITCHING
dc.subjectFUTURE FINANCING
dc.subjectGDP
dc.subjectGENERATION
dc.subjectGOVERNMENT BORROWING
dc.subjectHYDROPOWER
dc.subjectINCOME STATEMENT
dc.subjectINEFFICIENCY
dc.subjectINFLATION
dc.subjectINTEREST EXPENDITURE
dc.subjectINTEREST PAYMENT
dc.subjectINTEREST PAYMENTS
dc.subjectINTERNATIONAL BANK
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectLATE PAYMENT
dc.subjectLEVEL OF DEBT
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY PROBLEM
dc.subjectLOAN
dc.subjectLOAN BALANCE
dc.subjectLOAN COVENANT
dc.subjectLOAN COVENANTS
dc.subjectLONG-TERM DEBT
dc.subjectLONG-TERM INVESTMENT
dc.subjectMARKETABLE SECURITIES
dc.subjectNET PROFIT
dc.subjectNET PROFITS
dc.subjectOPERATING COSTS
dc.subjectOPERATIONAL DEFICIT
dc.subjectOUTSTANDING DEBT
dc.subjectPAYMENT DISCIPLINE
dc.subjectPAYMENT OBLIGATIONS
dc.subjectPAYMENT ON DEBT
dc.subjectPAYMENT TO CREDITORS
dc.subjectPAYMENTS TO CREDITORS
dc.subjectPENALTIES
dc.subjectPENALTY
dc.subjectPOWER
dc.subjectPOWER PRODUCERS
dc.subjectPOWER PURCHASE AGREEMENTS
dc.subjectPOWER SECTOR
dc.subjectPOWER TRADE
dc.subjectPRIVATE INVESTMENT
dc.subjectPROFIT MARGIN
dc.subjectPROFITABILITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC INVESTMENTS
dc.subjectRECEIVABLES
dc.subjectREHABILITATION PROGRAM
dc.subjectREPAYMENT
dc.subjectREPAYMENTS
dc.subjectREPAYMENTS OF PRINCIPAL
dc.subjectRESERVES
dc.subjectRESIDENTIAL CONSUMERS
dc.subjectSOLVENCY
dc.subjectTAX
dc.subjectTAX OBLIGATIONS
dc.subjectTIMELY PAYMENTS
dc.subjectTOTAL COSTS
dc.subjectTOTAL REVENUE
dc.subjectVALUATION
dc.subjectWORKING CAPITAL
dc.titleTajikistan : Financial Assessment of Barki Tojiken
dspace.entity.typePublication
okr.date.disclosure2013-12-27
okr.date.doiregistration2025-05-07T11:10:18.834590Z
okr.doctypeEconomic & Sector Work::Other Financial Sector Study
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2013/10/18719013/financial-assessment-barki-tojik
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeEnergy and Extractives
okr.guid252791468119374383
okr.identifier.externaldocumentum000461832_20131227152407
okr.identifier.internaldocumentum18719013
okr.identifier.report83696
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/12/27/000461832_20131227152407/Rendered/PDF/836960WP0BT0Fi0ox0382105B00PUBLIC0.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryTajikistan
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicEnergy::Energy Production and Transportation
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.unitEnergy (ECSEG)
okr.volume1 of 1
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