Circular debt surpasses Rs 2000 billion in energy sector: Shafqat Mehmood

LAHORE, August 24 (Online): Education Minister Shafqat Mehmood has said that circular debt in energy sector has surpassed Rs 2000 billion in the country, however, it will be reduced due to new agreements with IPPs.

Education Minister said this while addressing a ceremony here Monday at a Grid station.

He pointed out most problems which the people of his constituency bring to him as MNA for resolution related to electricity. The people analyze and assess the performance of the government in terms of supply of electricity and energy related matters.

He held “ our real target is to satisfy the people. Efforts are underway to sort out the problems related to the electricity.

He underlined in the past the national interest was not kept in view while signing electricity agreements in the past. We are resolving the problems we have inherited from the previous governments.

We are not opposed to IPPs and we are bringing betterment in the matters with them. We are balancing the agreements executed with them in the past. We inherited circular debt amounting to Rs 1500 billion when we came to power. This circular debt has now swelled above Rs 2000 billion. The new agreements with IPPs will curtail the circular debt, he assured.