PM Calls Tackling Energy Circular Debt a Major Government Achievement

New York: Prime Minister Shehbaz Sharif said that the circular debt in the energy sector was consuming all resources, and addressing this issue is a major achievement of the government.

In a virtual address at the inauguration ceremony of the plan to eliminate energy circular debt, the Prime Minister said that the debt was continuously increasing, affecting the country’s economy.

He said that the task force, led by the Minister of Energy, played an active role and successfully negotiated with private power plants, making this plan possible.

He added that line losses in the energy sector are also a major challenge, and attention will be given to this in the next phase.

The Prime Minister said that he met with the IMF Managing Director, who appreciated Pakistan’s economic improvement.

Speaking at the ceremony, Minister of Energy Owais Laghari said that circular debt had put severe pressure on the economy, but a consensus-based strategy was developed to tackle the issue.

According to him, under the scheme, the circular debt will be eliminated over the next six years.

The Finance Minister said on the occasion that the fundamental issues of the power sector are being resolved, efforts to eliminate circular debt had been ongoing for a year, and this scheme will be a major milestone in the energy sector.

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