ISLAMABAD: The Power Division has submitted the Circular Debt Report for the month of April 2021 to the Cabinet Committee on Energy (CCoE).

A meeting of the Cabinet Committee on Energy (CCoE) was held under the Chairmanship of Federal Minister for Planning, Development, and Special Initiatives Asad Umar, here in Islamabad on Tuesday.

The Power Division submitted the Circular Debt Report for the month of April 2021. It was informed that the circular debt buildup during July and April was Rs260 billion, which was considerably lower than the Rs449 billion buildup during April 2020, which reflected an improvement of Rs189 billion over the last year.

The committee appreciated the improvement in circular debt management, and directed that the Power Division should work with the Finance Division to make further improvements in the system.

The Petroleum Division apprised the Committee of the progress on the establishment of new LNG terminals.

The meeting was attended by Minister for Energy, Minister for Finance, Minister for Maritime Affairs, Minister for Railways, Minister for Science and Technology, Advisor on Commerce, the SAPM on Power, Petroleum and Revenue.

Representatives of regulatory authorities and officials of provincial governments also participated in the meeting.

Copyright Business Recorder, 2021