In a briefing to the Public Accounts Committee (PAC) provided by the Ministry of Water and Power (MOWP), it was revealed that the circular debt figure had crossed the Rs400b mark. As per MOWP, the circular debt figure currently stands at Rs 402.14b and the payments owed for electricity stood at Rs 237b.
The ministry also apprised PAC that the current rate of electricity generation stood at Rs 8.52 per unit on average and it was being sold at Rs 11.97 per unit to the end consumers. The actual line losses now stand at 17.9pc according to the MOWP. They also shared the figures of transmission losses which had reached to Rs135b in the last four years and the circular debt figure also includes the Rs22b owed by Karachi Electric.
While providing further details to PAC, they said Rs 62b need to be gathered in form of subsidies and other costs and the finance ministry has been instructed to clear its dues immediately. With the clearance of dues, the ministry officials stated they would be able to pay the outstanding dues of PSO and the independent power producers.
