Govt plans to cut down circular debt to Rs225b by Dec

ISLAMABAD    -   The incumbent government has embarked on an ambitious programme to cut down circular debt to Rs 225 billion by December. The sources told APP here that the circular debt escalated to Rs 450 billion in just one year due to delay in tariff determination, absence of proper plan to stop power pilferage and power supply to high losses feeders. However, the government since its inception has firm commitment to bring reforms in power sector including indiscriminate action against power pilferers and recovery from defaulters, As per the plan, circular debt would be brought down to Rs225 billion from existing over Rs600 billion by December 31, 2019. They said the past government did not give attention to power sector recovery besides continuous power supply to high losses feeders. They said owing to the efforts of current government, power sector revenue witnessed Rs.40 billion surge in last three months.

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