Circular debt declines by Rs 189bn in 10 months: Asad Umar

ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Tuesday said the circular debt build up in energy sector had declined by Rs 189 billion during first 10 months (July-April) of current fiscal year as compared to same period of last year.

"Circular debt build up in Jul-Apr this fiscal year is Rs 260 billion compared to Rs 449 billion same period last year-a reduction of Rs 189 billion", he said in his tweet.

He added that the full year circular debt build up this year was expected to be more than Rs 100 billion less than the circular debt build up in last year of the PML-N government.

"This huge improvement in the circular debt build as compared to last year of PML-N government has been achieved despite massive increase in capacity payments caused by decisions committed by the PML-N government."

Asad Umar said Prime Minister Imran Khan government was improving performance and clearing mess inherited from PML-N in every sector.

"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," he added.