Circular debt in energy sector crosses Rs. 300 bln

ISLAMABAD: The volume of circular debt in the energy sector has crossed Rs. 300 billion, ARY News reported on Wednesday.

According to government statistics, the circular debt in the energy sector has reached to Rs. 328 billion.

International Monetary Fund (IMF) had advised Pakistan economic managers to end the circular debt on energy sector, reduce the subsidy provided to consumers of electricity and privatize the state entities.

The circular debt of the energy sector is also piling in the newly emerged sub-sector of imported Liquefied Natural Gas (LNG). The circular debt of the LNG has reached Rs. 12 billion.

Pakistan State Oil (PSO) has to collect Rs. eight billion from the power sector in the country.