ISLAMABAD (City News) – Pakistan’s circular debt has ballooned to a whooping Rs638 bn for year 2016, read by the report issued by the National Electric Power Regulatory Authority (NEPRA).
The report stated that recovery ratio from industrial sector remained 94pc against 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 giant Pakistan 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 circular debts stood at over Rs500 bn. However, Sharif-led govt immediately released the due amount to address issue of power cuts.