Govt concerned at circular debt surge
The government raised concerns during a meeting of Cabinet Committee on Energy with Planning and Development Minister in the chair.
The circular debt will reach Rs2,587 billion in the first six months of the ongoing year the insiders said.
By June, IPPs’ circular debt will reach Rs1,510billion, fuel suppliers’ Rs100billion, Power holding company’s Rs977 billion, the sources said,
Minister for Finance Dr Abdul Hafeez Shaikh, Minister for Energy Omar Ayub Khan, Federal Minister for Information and Broadcasting Shibli Faraz, Minister for Maritime Affairs Syed Ali Haider Zaidi and Special Assistant to PM on Petroleum Nadeem Babar attended the meeting.
The committee appreciated the efforts of the Power Division for regular monitoring.