ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Tuesday said the circular debt build-up in the energy sector had declined by Rs 189 billion during the first 10 months (July-April) of the current fiscal year as compared to the same period of last year.
“Circular debt build-up in Jul-Apr this fiscal year is Rs 260 billion compared to Rs 449 billion same periods last year-a reduction of Rs 189 billion”, he said in his tweet.
He added that the full-year circular debt builds up this year was expected to be more than Rs 100 billion less than the circular debt build-up in the last year of the PML-N government.
“This huge improvement in the circular debt build as compared to last year of PML-N government has been achieved despite the massive increase in capacity payments caused by decisions committed by the PML-N government.”
Asad Umar said Prime Minister Imran Khan government was improving performance and clearing mess inherited from PML-N in every sector.
“This improvement in energy sector performance and slow down in build-up of circular debt has been the result of sustained hard work, analytical data-based decision making and willingness to break the nexus between decision-makers and powerful elite,” he added.