ISLAMABAD – Pakistan’s circular debt has reached unprecedented high levelof Rs638 bn for year 2016, read by the report issued by the NationalElectric Power Regulatory Authority (NEPRA).
The report stated that recovery ratio from industrial sector remained 94pcagainst the set target of 100pc. Owing to 6pc reduction in the target set,the power distribution sector suffered a mammoth loss of Rs53 bn.
The latest stats indicate that only receivables from state-owned oil giantPakistan State Oil (PSO) has augmented to Rs334 bn.
It is pertinent to mention here that when Pakistan Muslim League Nawaz(PMLN) took charge of federation back then in 2013, the volume of circulardebts stood at over Rs500 bn. However, Sharif-led govt immediately releasedthe due amount to address issue of power cuts.