Circular debt mounts to Rs2.5tr in four years: Miftah Ismail
By MG News | June 07, 2022 at 05:29 PM GMT+05:00
June 07, 2022 (MLN): The circular debt of the power sector has increased more than two-fold to Rs2.5 trillion since the PTI government led by Imran Khan came to power in 2018, said Miftah Ismail while addressing a pre-budget seminar today.
Four years back, the circular debt was recorded at Rs1.10tr.
While the growing gas circular debt reaches Rs1.1tr.
“When we came into power, we received a fiscal deficit of Rs5.6 trillion,” he said. This has jumped by 3.5 times when compared to the deficit of Rs1.6tr recorded four years back.
On the debt front, he highlighted that the external debt shot up by $20bn during 3.5 years.
In a pre-budget seminar, he said, we need 6% GDP growth to provide jobs as we inherited the mass unemployment, high inflation, and external imbalances terming the model of Pakistan’s economy as “inherently flawed”.
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