Apropos 'Power sector receivables hit Rs 534.04 billion mark' carried by Business Recorder yesterday, it is indeed a matter of grave alarm that the power sector receivables have touched Rs 534.047 billion mark as of July 2014 against Rs 512.909 billion on June 30, 2014, showing an increase of four percent in just one month despite tall claims of the top brass of Water and Power Ministry pleading improvement in collection.
The situation in relation to power sector circular debt gives birth to a profound question: What happened to the circular debt of about Rs 500 billion the last PPP-led coalition government had bequeathed to this government? Contrary to the present government's claims, it increasingly appears that it never resolved the circular debt that it inherited following May 2013 general elections. How much could you tax a beleaguered development expenditure through such acts of mis-governance and possible financial malfeasance?
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