Circular debt become a threat to the economy: PEW
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Islamabad Chamber of Small Traders on Sunday asked the government to resolve the circular debt which has swelled to Rs800 billion posing serious threat to the economy.
Currently, the government is focusing on LNG which is cheaper than the hydel power but open to fluctuation in the international market, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
He said that government should pay proper attention to the hydel power projects that generate cheap electricity and it is immune from external shocks.
Shahid Rasheed Butt said that power plants using imported fuel generate costly electricity while fluctuations in the oil prices result in miseries of the masses.
The energy sector has become dysfunctional because of the apathy of the successive governments while the PML-N leadership claimed to bury circular debt when it came to power, he added.
He said that energy crisis in Pakistan is a result of decades of indifference and it cannot be resolved anytime soon and it will continue to damage masses and the economy.
He said that dysfunctional power sector continues to deprive 35 percent of the population of grid electricity while the 65 percent have been facing load-shedding.
Pakistan fulfils 32 percent of energy demand through imported oil which is the biggest hurdle in the ample power generation while the circular debt continues to push away the investors.
He said that power transmission and distribution system has developed ir
