The power sector debt commonly known as circular debt is set to raise by a staggering Rs100 billion during the current fiscal year, plan of which has been shared with the International Monetary Fund (IMF).
According to sources, the circular debt currently stands at almost Rs2400 billion which will be up by another Rs100 billion till June 2025.
Sources said that the IMF expressed its concerns to the government on a whooping rise in the circular debt, upon which the government assured the global lender of timely fuel price adjustment.
The power division sources said that the IMF had strictly asked Shehbaz-led administration not to increase circular debt to Rs2500 billion.
It must be remembered that the IMF had asked the government to control circular debt at Rs2310 billion, which otherwise, will be considered a violation of the agreement between Pakistan government and Washington-based lender.
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