PM directs reduction in energy sector circular debt

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Prime Minister Shehbaz Sharif on Monday directed the officials concerned to reduce the circular debt in the energy sector.

The prime minister was chairing a high-level meeting here regarding the energy sector. During the meeting, the participants considered the adoption of a comprehensive strategy to control the present circular debt in the oil and gas sectors.

PM Shehbaz said the Pakistan Muslim League-Nawaz government completely eradicated the circular debt during its tenure of 2013-2018.

He resolved to bring the problem of debt under control with continuous efforts and effective planning. He directed that reforms in the energy sector should be undertaken in a way that the circular energy-saving plan, which would be presented before the Federal Cabinet on Tuesday.

Chief ministers of provinces were also invited to the cabinet meeting.

The prime minister instructed that all possible steps should be taken for ensuring an increase in revenue from the energy sector.

He said the energy transmission system should be improved and the losses and theft of electricity and gas should be stopped.