Govt wants to eliminate circular debt: Tarin
Says power sector is a big challenge for the country
We want investment to come from US to Pakistan in oil and gas and IT sector, he said. SCREENGRAB
ISLAMABAD:
Finance Minister Shaukat Tarin has called the power sector a “big black hole” where generation capacity has been overbuilt, which places burden of capacity payments.
“Current power generation capacity is so high that it will take up to seven years to take consumption to that level,” the minister said while releasing the Pakistan Economic Survey 2020-21 on Thursday.
“Power sector is a big challenge for the government, we want to tackle it,” he said.
Total public debt was recorded at Rs38tr at end March 2021, registering an increase of Rs1.607tr during the first nine months of current fiscal year 2020-21.