Gross circular debt reduced to half owing to govt's prudent policies: Omar Ayub

December 9, 2019: Minister for Power Division Omar Ayub Khan has said gross circular debt has almost reduced to half due to prudent policies of the government.

In a series of tweets, he said circular debt build-up for the first quarter of the current fiscal year was 77 billion rupees of which 39 billion paid by the budget leaving only 38 billion rupees. The net addition to circular debt translates to about 12 billion rupees a month, now.

Omar Ayub Khan said Asian Development Bank too has acknowledged drastic reduction in circular debt and we are delighted that ADB has verified governments claims.

The Minister also said that subsidy is being provided to ensure discounted electricity to the poorest consumers using 300 units and below and agricultural tube wells.

Radio Pakistan