PAC briefed on country’s circular debt


ISLAMABAD, May 24 (APP): Public Accounts Committee Wednesday was briefed on circular debt and was informed that till date, the circular debt stood at Rs 402 billion.
The meeting was informed that the current government had cleared outstanding amount of Rs 480 billion in May 2013.
The meeting of the committee was held here under the chairmanship of Syed Khursheed Ahmed Shah.
Secretary Water and Power, Yousaf Naseem Khokhar informed the committee that as on April 28, outstanding amount payable to Independent Power Producers (IPPs)/WPPO/CPPA stood at Rs 226.664 billion, whereas an amount of Rs 237.836 billion was payable to IPPs and so on.
Similarly the outstanding amount payable to WAPDA and other sectors stood at Rs 37.361 billion, whereas debt services remained Rs 16.582 billion.
Syed Khursheed Shah, however was not convinced over the briefing given by Ministry of Water and Power and said in 2013, international petroleum prices were more than double as comapred to the current price.
Similarly, he said the tariff rates being charged to the consumers were also higher as compared to the tariffs in 2013.
He asked the ministery that despite the above mentioned factors, why the ministry could not control ciruclar debts.
When he asked the ministry officials to provide total recoveries from hydel power project, the officials could not provide the required data.
Earlier, the meeting was informed that so far the government had added 5447 MW installed capacity to the national grid while 3111 MW more electricty would be added to the grid by December 2017.
Syed Naveed Qamar asked that despite addition of more electricity, why loadshedding could not be control.
Naseem Khokhar said for last one year, the industrial sector was being provided round the clock eletricity and in domestic sector, the time period of load shedding has also been reduced considerably.
Aashiq Hussain Khan Gopang asked the ministry officials to plan for providing subsidy to individuals who wanted to install solar panels at their homes.
The meeting was also attended by members of parliament Raja Muhammad Javed Ikhlas, Muhammad Junaid Anwar, Rana Afzal Hussain, Sherry Rehman, Mian Abdul Mannan, Mushahid Hussain Syed, Rohail Asghar, Dr Darshan, Muhammad Arshad Leghari, Azra Fazal Pechuho and Auditor General of Pakistan Imran Iqbal.