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Monday, November 25, 2024

Home Business PBIF says circular debt becomes a national security concern: Zahid

PBIF says circular debt becomes a national security concern: Zahid

by News desk
September 26, 2020
in Business

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Observer Report

Karachi

President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said circular debt has swelled to Rs2.1 trillion becoming a serious national security issue.
Circular debt is increasing by almost Rs550 billion per annum and it can jump to Rs5 trillion over the next four years, he said.
Mian Zahid Hussain warned that the infamous debt has the ability to hit the economy hard and bankrupt the ailing power sector.