Circular debt reaches Rs5.4tr

By MG News | September 15, 2023 at 04:55 PM GMT+05:00

0:00

September 15, 2023 (MLN): Pakistan’s circular debt has surged to an alarming level of Rs5.4 trillion, Muhammad Ali, Caretaker Minister for Energy, Power & Petroleum stated.

Out of this amount, a significant portion, nearly Rs1 trillion, accounts for the interest on the debt.

Furthermore, the debt in the gas sector has surged to a staggering Rs2.9tr, while the power sector is also grappling with a substantial debt burden, which now stands at Rs2.5tr.

The rise in the gas circular debt is primarily due to distortions in the pricing pattern.

Importing gas at Rs3,700 and selling it at Rs1,100 has been a key factor contributing to the accumulation of circular debt.

To note, earlier on September 08, Muhammad Ali stressed the pressing concerns regarding the circular debt and stated that it might be necessary to increase gas prices across the board as a vital step towards addressing the crisis.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	132,870.41 67.75M	-0.40% -532.78
ALLSHR	83,076.69 368.82M	-0.13% -111.36
KSE30	40,426.75 24.86M	-0.55% -224.71
KMI30	191,182.96 29.17M	-0.47% -900.95
KMIALLSHR	55,757.69 182.83M	-0.16% -90.01
BKTi	36,242.80 3.69M	-0.49% -180.08
OGTi	28,328.37 5.99M	-0.38% -109.24

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,145.00	109,545.00 108,625.00	-70.00 -0.06%
BRENT CRUDE	69.99	70.09 69.85	-0.16 -0.23%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.15	68.27 67.78	-0.18 -0.26%
SUGAR #11 WORLD	16.15	16.37 16.10	-0.13 -0.80%