Circular debt to be 'cleared' this month

ISLAMABAD (APP) - The Ministry of Finance is all set to clear the circular debt of Independent Power Plants during the current month in a bid to lower the gap between power production and high demand.
Minister of State for Finance and Economic Affairs Ms. Hina Rabbani Khar in a meeting with Prime Minister Syed Yusuf Raza Gilani Friday said her ministry was working to clear the outstanding amount.
Pakistan is currently facing an energy shortfall of over 3000 MW, causing severe load shedding of 10-12 hours in parts of the country. The situation was compounded by the 1100 MW power shortfall caused by the malfunctioning of Mangla power plants transmission lines.
Prime Ministers Advisor on Petroleum Dr. Asim Hussain who also met the Prime Minister said efforts were being made to ensure uninterrupted supply of oil and gas to power plants to meet the power shortage in the country.
Prime Minister Gilani also took strong note of the severe power shortage in the recent cabinet meeting and un-announced load- shedding. He also constituted a committee to suggest remedial measures.