This is apropos a letter by Naqi Zafar carried by Business Recorder on September 1 on circular debt. Yes, this is a very serious issue to be addressed to by the new government. It used to be Rs 1 billion per day a few years ago. Then it rose to Rs 2 billion per day. Now it is about Rs 3 billion per day. This figure is despite some payments made by the government to private power producers off and on.
In my opinion, theft is not the only reason behind this high debt. The major reasons are non-payment of power dues by two provinces and government offices. Now the new government rules in KP also, therefore, recovery of dues from there should not be any problem. Until and unless power dues are recovered from KP and Balochistan, I don't think this problem can ever be controlled.
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