Circular debt soars to Rs2,587 billion
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Circular debt has eaten up one third of the country’s budget, reported 24NewsHD TV channel on Thursday.
According to the documents obtained by 24News TV channel, the country’s total circular debt has reached Rs2,587 billion as the government has to pay Rs1, 526 billion to the private and state-owned power houses.
State-owned thermal power plants owe Rs99 billion to Pakistan State Oil.
Documents disclose that Karachi-Electric (K-Electric) owes Rs35 billion to the government.
Reporter Awais Kiani