ISLAMABAD: The Pakistan Economy Watch (PEW) has lauded the government for curbing circular debt after coming in power, but said that Rs600 billion of debt has resurfaced again, which is threatening industrial output and jeopardising growth rate.
In a statement, PEW President Dr Murtaza Mughal pointed out that the government has not completed any noteworthy power project in the last two years and no major gas deposit has been found which has escalated the energy crisis impacting every person and all sectors of the economy.
He said that the present electricity production is 10,800MW while demand stands at 15,500 MW. The current short fall of 4700 MW will become 7000 MW in the months of June and July.
Mughal said that Uch II power plant has not started production, Nandipur has only wasted Rs69 billion while development of Neelum-Jhelum project is far from satisfactory.
