Country’s circular debt soars to Rs 521 billion, Senate told

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ISLAMABAD, Jul 13 (APP):Country’s circular debt has soared to Rs 521 billion on May 30, 2018, Minister for Energy Ali Zafar told Senate in a written reply.
In response to the question of Senator Nauman Wazir Khattak, the minister told that the Power Purchaser is making 85% of payment against current billing of the Generators.The former government however, has cleared Rs. 480 billion of Circular Debt on 30-06-2013. Afterwards regular payments are being made by the Power Purchaser to the Generators.
He said the present Government has not cleared Rs. 400 billon Circular Debt.Chairman Senate has already constituted a committee to examine all individual components of the Circular Debt and measures taken by the Government to reduce the circular debt.