'Govt improving performance, clearing mess': Umar on circular debt reduction

ISLAMABAD: Planning and Development Minister Asad Umar said Tuesday that circular debt recorded a reduction of Rs189 billion during July-April FY 2021.

Taking to Twitter, he said circular debt build-up during July-April this fiscal year was Rs260 billion as compared to Rs449 billion during the same period last year, showing a reduction of 189 billion.

He said the full year circular debt build-up is expected to be more than Rs100 billion and less than the circular debt accumulation in the previous PML-N government’s last year in power.

“This huge improvement in the circular debt build vs last year of PMLn govt has been achieved despite massive increase in capacity payments caused by decisions committed by pml govt,” he maintained.

“PMIK govt improving performance and clearing mess inherited from PMLn in every sector.”

This huge improvement in the circular debt build vs last year of PMLn govt has been achieved despite massive increase in capacity payments caused by decisions committed by pml govt. PMIK govt improving performance and clearing mess inherited from PMLn in every sector

— Asad Umar (@Asad_Umar) May 25, 2021

Umar said, “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.”