Mohsin Siddiqui (Chief Reporter)

Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed the Ministry of Energy to develop and present a comprehensive, sustainable plan in collaboration with the Finance Ministry to tackle the circular debt plaguing the power and gas sectors. This directive came during a review meeting chaired by the caretaker prime minister to assess strategies aimed at reducing circular debt in the energy sector.

Addressing the importance of restoring economic stability, Kakar emphasized the caretaker government’s commitment to prioritizing economic revival. He underscored the significance of concerted efforts in reducing circular debt, emphasizing the need for collaboration among all stakeholders.

Highlighting the positive impact of anti-electricity theft operations on improving revenue recovery for power distribution companies, Kakar stressed the need for continued efforts to address the circular debt crisis effectively.

The review meeting convened federal ministers, including Dr. Shamshad Akhtar and Muhammad Ali, along with relevant officials, who received a comprehensive briefing on the current status of circular debt in the petroleum and energy sectors. Suggestions were also presented during the meeting to devise strategies for reducing circular debt across various companies.

In response to the discussions, the caretaker premier, as per the Prime Minister’s Office, instructed the Ministry of Energy to work closely with the Ministry of Finance to formulate a robust plan that addresses the complexities of circular debt effectively.

By prioritizing the development of a sustainable plan and fostering collaboration among key stakeholders, the caretaker government aims to mitigate the adverse effects of circular debt on the energy sector and contribute to overall economic stability and growth.