Circular debt build-up for July-Apr down by Rs189bn in current FY: Asad Umar

Federal Minister for Planning and Development Asad Umar said on Tuesday that the circular debt build up for the period of July-April this fiscal year has been reduced by Rs189 billion as compared to the previous year.

“Circular debt build up jul-apr this fiscal year is 260 billion vs 449 billion same period last year, a reduction of 189 billion,” the minister said in a series of Twitter posts today.

“The full year circular debt build up this year is expected to be more than 100 billion LESS than the circular debt build in PMLN last year of govt!,” he added.

In another tweet, theminister said the “huge improvement” in circular debt build up as compared to the last year of the Pakistan Muslim League-Nawaz (PML-N) govt was “achieved despite massive increase in capacity payments caused by decisions committed by the last government whereas the current was govt 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 maintained.

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