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ISLAMABAD, Jan 14 (APP):Minister for Energy Sardar Awais Ahmad Laghari Tuesday said that the circular debt decreased to 12 billion rupees, reaching 2,381 billion rupees for the period from July to November 2024 as the debt was 2,393 billion rupees on June 30, 2024.
In a video message released by his office, the minister highlighted that the recovery rate for the period from July to November 2024 has reached 96%, significantly improving compared to the same period in 2023 due to the prudent policies of the government.
Meanwhile, the minister also revealed that the power division proposed revised agreements with eighteen more Independent Power Producers (IPPs) before the federal cabinet.
The Cabinet Committee on Energy approved the Power Division’s summary, granting permission for a single-point power supply to Industrial States and Special Industrial Zones beside authorizing their management for giving connection, bill collection, and other related matters.
The decision was made to address complaints from industrial zones and special industrial zones regarding the new connections and billing process, said a press release.
In this regard, a mechanism is also being developed, which would be implemented by the Power Division in the next two to three months.
The minister stated that the power sector has begun to reap the benefits of the steps taken by the Power Division.