No Loadshedding Due to Circular Debt in the Next 7 Months: Miftah Ismail

The former Finance Minister Miftah Ismail has told that there will be “no loadshedding” in the next 7 months on the basis of the liquidity crisis.

The cash flow situation in the power sector is currently stable with the circular debt standing at Rs 397 billion, Ismail added. He added that the Economic Coordination Committee (ECC) has further allowed Power Holding Private Limited (GHPL) to borrow Rs 50 billion to further ease off the circular debt.

The former minister stated that the current debt situation in power sector is within manageable limits. If the amount exceeds Rs 400 billion, then the country can expect power shortage and outages.

 


ALSO READ

No More Loadshedding? Blistering Heat Exposes Claims of Ending Power Shortfall


Power Sector Circular Debt

Dr. Miftah told that GHPL is expected to arrange the Rs 50 billion before Eid-ul-Fitr. It will enable the system to run smoothly for the next seven months. He added that Rs 15 billion subsidy is in place as well that will further ease the cash flow system.


ALSO READ

Senate Committee Raises Concerns About Loadshedding During Ramadan


According to an official in the power division, the finance ministry is finalizing the terms to borrow the said Rs 50 billion. The official added that the government released Rs 80 billion in the first phase. Rs 53 billion out of that amount were paid to (Independent Power Plants) IPPs, nuclear power plants, and state-owned Pakistan State Oil. The rest – Rs 27 billion – were released for the banks in the head of debt servicing that the power sector has borrowed.

The former minister told that the current 3,000 MW shortfall has been due to the water shortage in the dams.

Via The News


  • seefi_boy

    No Load shedding Because they want to win elections very badly and will start dancing in the campaign that they have stopped load shedding. The moment they win, load shedding will start again… And our stupid people will yet again will not recognize their plan…

    • hahah

      Yeah these Pakistanis are plain pathetic stupid idiots

      • Saqi

        Are you indian?

        • Muhammad Areeb

          yes he is indian

        • hahah

          No

    • Muhammad Areeb

      your theory is totally wrong cuz next in next 7 months loadshedding still wont stop….:D