Power Division claims circular debt frozen at Rs2.310tr

The Power Division, on Tuesday, claimed that it had met the target of freezing circular debt at Rs2.310 trillion as of December 21, 2023, in its efforts to manage the power sector and address technical and commercial losses. The Power Division secretary informed a meeting of the Senate Standing Committee on Power, chaired by Senator Azam Nazeer Tarar, about this achievement. The Secretary of the Power Division provided a detailed briefing on the status of circular debt, explaining that all circular debts had met their set target of Rs2.310 trillion as of December 21, 2023, including those successfully negotiated with the International Monetary Fund, ensuring consistency in 2024 as well. The Power Division attributed the achievement of targets to efficiency in managing the power sector and addressing technical and commercial losses through tariff adjustments. Additionally, Rs85.7 billion has been recovered due to an anti-theft drive initiated in the second week of August 2023.