Minister for Energy Sardar Awais Ahmad Laghari announced that circular debt has decreased by Rs12 billion, bringing the total down to Rs2,381 billion for the period from July to November 2024, compared to Rs2,393 billion on June 30, 2024.
In a video message, the minister attributed this improvement to the government’s prudent policies, highlighting a recovery rate of 96% for the period, a significant increase compared to the same period in 2023.
The minister also disclosed that the Power Division has proposed revised agreements with 18 additional Independent Power Producers (IPPs) for consideration by the federal cabinet.
The Cabinet Committee on Energy (CCoE) on Tuesday approved a summary from the Power Division, granting permission for single-point power supply to industrial states and special industrial zones.
It also authorised their management to handle new connections, bill collection, and related matters to address longstanding complaints from these zones regarding the billing and connection processes.
A mechanism to implement these decisions is being developed and is expected to roll out within two to three months, according to the Power Division.
Minister Laghari emphasised that the power sector is beginning to benefit from the measures introduced by the Power Division, which are aimed at improving efficiency and addressing industry concerns.
