It is indeed a matter of grave concern for every Pakistani that country’s energy sector circular debt flow is still soaring with an average growth of about Rs 38 billion per month.

Let me remind the newspaper readers that ever since PTI came to power following the 2018 general elections, the prime minister is quite consistent insofar his understanding of the energy sector is concerned. According to him, this sector is his government’s Achilles heel.

The then finance minister during the last PML-N rule, Ishaq Dar, used to describe himself in a lighter vein not as finance minister but as ‘minister for circular debt’.

It is, therefore, quite alarming that successive governments have done little or nothing to work out an effective solution to this problem, which is forcing every government to curtail development funding in order to meet ever-growing financial needs because of burgeoning circular debt. There appears to be no light at the end of the tunnel.

Mahmood Masood (Lahore)

Copyright Business Recorder, 2022