Pak circular debt reaches Rs573bn


ISLAMABAD: Senate Special Committee on Circular Debt was Tuesday informed that during last five years (from 2013-18) the circular debt has reached Rs 573 billion. The committee, held with Senator Shibli Faraz in the chair, discussed the issues of circular debt, electricity theft and load shedding.
Briefing the committee, Joint Secretary Power division said that from 2013-18 the circular debt has reached Rs 573 billion. He said that the running defaulters is Rs 348 billion. He further said that the government is providing a subsidy of Rs 52.22 billion to AJK, Rs14.2 billion to Fata and Rs31.4 billion to industrial sector.
The joint secretary said that 650 MW electricity is being provided to K-Electric. He said that from March to July 2018 the generation cost of the electricity is Rs 8.52 per unit the consumer cost is Rs 11.9 per unit. Terming the electricity theft and nonpayment of bills by influential people as a financial terrorism, the Senate committee has asked the government to make strategy for controlling the same. The poor people are paying electricity bills regularly and if they miss one bill their electricity is being disconnected while the influential people are regular defaulters and due to their high contacts nobody is disconnecting their connections, said Shibli Faraz. He said that avoiding paying electricity bills and dodging the punishment with their influence is financial terrorism. He said that the government needs to adopt strategy to fight such the financial terrorism and should be dealt under Anti Terrorism Act.