ISLAMABAD: Despite making tall claims of fiscal achievements, the federal government led by Pakistan Tehreek-e-Insaf (PTI) has failed to reduce power sector circular debt as it has soared to Rs2.476 billion in November 2021.
The power sector circular debt has broken all records in December 2021 as it has crossed the Rs2.476 billion mark after 3.5 years of PTI-led government.
According to the documents obtained by News360, an Rs1.328 billion increase in power sector circular debt was witnessed during the 40 months of the PTI government. The circular debt stood at Rs1.148 billion in August 2018 which was soared to Rs2.476 billion in December 2021.
The volume of circular debt was Rs2.28 billion till June 2021 but it has increased by an average of Rs32.5 million per month from July to December.
Experts said that the federal government has failed to formulate a strategy to reduce the circular debt which led investors in the power sector to lose confidence in the government.