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Power sector’s circular debt reaches Rs2.65tr by May

Power sector’s circular debt reaches Rs2.65tr by May
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July 06, 2024 (MLN): A meeting of the Cabinet Committee on Energy (CCoE) was informed on Friday that the circular debt of the power sector has reached Rs2.655 trillion as of May 2024.

The meeting presided over by Prime Minister Shehbaz Sharif also approved the establishment of DISCOs support unit to increase the efficiency of electricity distribution companies, prevent electricity theft and ensure timely collection of bills.

The DISCOs support unit system will be started from Multan Electric Power Company.

The committee also approved an incentive package for recovery of unpaid and overdue electricity bills.

Under this package, DISCOs workers and law enforcement institutions will be awarded for the recovery of unpaid and overdue bills.

The Cabinet Committee also approved the Standardized Security Package Document under the Power Policy 2015 for small water projects of the private sector.

The aim of this initiative is to promote private investment in the power sector and to deal with tariff and other issues quickly.

Further, the forum approved the extension of six months in the Refinery Policy 2023 with regard to the up-gradation of the existing refineries.

The committee directed the Ministry of Petroleum to take into confidence the oil refineries established in the country and prepare a comprehensive plan for up gradation.

The committee was also presented with a detailed report on the debt of electricity sector from July 2023 to May 2024.

The Prime Minister established a committee for preparing the plan of uninterrupted supply of electricity in Gilgit-Baltistan.

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Posted on: 2024-07-06T15:09:38+05:00