Pakistan’s Circular debt increased by more than 2,000 percent to 2,280 trillion at the end of FY2020-2021 from Rs. 105 billion in 2008 due to a number of factors such as transmission and distribution losses.
The Power Division shared this information with the Senate Standing Committee shortly after the committee became showed dismay over the absence of Energy Minister Hammad Azhar.
The Power Division noted that the Circular debt was Rs. 105 billion in 2008 which increased to Rs. 149 billion in 2009, 225 billion in 2010, 221 billion in 2011, 603 billion in 2012 and rupees. 447 billion in 2014, 531 billion in 2014, 649 billion in 2015, 589 billion in 2016, 702 billion Rupees, 1152 billion rupees in 2018, 1.612 trillion rupees in 2019, 2.15 trillion rupees in 2020 and 2.680 trillion rupees in 2021.
The committee was informed that the Pakistan Electric Power Corporation (Pepco) is coming to an end and its functional tasks such as transportation / commissioning and promotion have been transferred to similar discos. However, Pepco’s technical experts are now at the Department of Energy and will take up their duties in Islamabad starting next Monday. Pepco’s name was changed along with the Material Memorandum (MoA), a letter already written to the SECP.
Latest posts by News Desk (see all)
- Oil Prices down amid Geo-Political Uncertainty - November 1, 2023
- Govt to borrow PKR8.5 trillion in Bond Auction till Jan-2024 - November 1, 2023
- Nishat Chunian Ltd: 1QFY24 profit rises 13 percent to PKR 500mn - October 31, 2023
