Champion_Usmani
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Debt stocks hit record Rs 26.4 trillion mark
- Thread starter Champion_Usmani
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pkuser2k12
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Jinn Baba
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That guy in the video is 100% right!
Champion_Usmani
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AZ1
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You want appreciation bring back Ishaq Dar your dollar controller
pkuser2k12
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Propoganda busted : PM Imran Khan met both bidding companies China Gezhouba and Power China company during his visit to china
Impression was given that PM Imran Khan only met China Gehouba as a conflict of interest
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BEIJING: November 03 Chairman Power China, Mr. Yan Zhiyong calls on Prime Minister Imran Khan. APP
November 3, 2018
Source:
Associated press of Pakistan
https://photo.app.com.pk/photo/2018/11/beijing-november-03--chairman-power-china-mr-yan-zhiyong-calls-on-prime-minister-imran-khan-app/
PM Imran Khan Meet With Mr.Yan Zhiyong Chairman Power China
Also present were Railways minister Sheikh Rashid,Finance Minister Asad Umar,Foregin Minister Shah Mehmood Qurashi,Federal Minister for Maritime Affairs Ali Zadi,CM Baluchistan Jam Kamal and Khusro Bakhtiar Minister Water Resources
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First contestant -- Descon, the company owned by the Prime Minister’s Adviser on Commerce and Industry Razzaq Daud, China Gezhouba and Voith Hydro
second contestant — a consortium consisting of the Frontier Works Organisation (FWO), Andritz Hydro and Power China
Source:
Dawn News
January 02, 2019
(Second Paragraph)
https://www.dawn.com/news/1455011
AZ1
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SO where all money that PTI has taken went? PAYING BACK OLD LOANS IDIOTS
Champion_Usmani
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Business community, especially the small businesses are a big hit by faulty economic policies of this PTI govt.
Talking about printing money...Check this...
Talking about printing money...Check this...
AZ1
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Previous govt ruin the country now PTI is saving by any means whats wrong in that?
Nawaz added whopping $35b to Pakistan’s debt
https://tribune.com.pk/story/1469896/nawaz-added-whopping-35b-pakistans-debt/
Foreign loans contracted by government cross $40b
https://tribune.com.pk/story/1602509/2-foreign-loans-contracted-government-cross-40b/
Champion_Usmani
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pkuser2k12
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Circular debt of Rs1.1tr(1148 tr rupees) passed on to new govt
By Zafar Bhutta
Published: August 18, 2018
The power sector is to receive Rs817.5 billion from private and government clients. On the other hand, power consumers are paying Rs159 billion on account of taxes in electricity bills. PHOTO: FILE
ISLAMABAD: Though the previous Pakistan Muslim League-Nawaz (PML-N) government claimed to have brought about improvement in power production, it still passed on a gigantic circular debt of Rs1.148 trillion to the new government of Pakistan Tehreek-e-Insaf (PTI), which faces a bumpy road ahead.
The PML-N had come up with a slogan in 2013 that it would bring load-shedding to an end during its five-year tenure. It solely focused on setting up thermal power plants to increase electricity production, but failed to streamline and upgrade the transmission and distribution network, which could not bear the load of additional power generation.
Of late, the circular debt has become a mammoth challenge for all governments, including the Pakistan Peoples Party (PPP), which ran the government from 2008-13. The situation is no different for the new government which will have to deal with a debt burden of over Rs1 trillion.
In a meeting of the Senate special committee on circular debt on Friday, officials of the Ministry of Energy (Power Division) revealed that out of the total circular debt, Power Holding Private Limited (PHPL) had borrowed Rs582.86 billion whereas Rs566 billion was borrowed to cover receivables of power distribution companies.
The meeting, chaired by Senator Shibli Faraz, was informed that PHPL was to pay Rs153 billion in annual interest on the loans.
The Power Division had also requested the power-sector regulator to include the amount in consumer tariff, but the National Electric Power Regulatory Authority (Nepra) dismissed the plea. Nepra argued that the loans were not part of the development budget and were acquired for smoothly running the distribution companies.
The committee was told that the power sector was to receive Rs817.5 billion from private and government clients. On the other hand, power consumers were paying Rs159 billion on account of taxes in electricity bills.
It was revealed that the Central Power Purchasing Agency (CPPA) was receiving Rs66 billion out of the Rs100 billion charged in electricity bills.
During the meeting, the committee chairman and Senator Musaddik Malik traded allegations.
Faraz held the PML-N government responsible for the mess in power sector, to which Malik responded by saying he would walk out if his opinion was not heard. The committee chairman told Malik that he was disturbing environment of the meeting.
Malik argued that it was not possible to stop theft without installing smart meters, adding the loan offered by the Asian Development Bank (ADB) for the purpose had some drawbacks.
He emphasised that the government would have to bring improvement and efficiency in those power distribution companies where theft and losses stood quite high.
The committee noted that the circular debt would rise further after the production of electricity by new plants. Responding to that, Power Division officials said the government would have to enforce load-shedding in areas where losses and theft were high.
Published in The Express Tribune, August 18th, 2018.
SOURCE:
EXPRESS NEWS
https://tribune.com.pk/story/1783395/2-circular-debt-rs1-1tr-passed-new-govt/
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Circular debt has risen to 1.4tr rupees(1400 billion rupees ) from 1.148tr rupees(1148 billion rupees) because the government has to pay the circular debt to power companies along with loan on interest back to IMF and the treasury is nearly empty thanks to PMLN hence government is falling back on repaying loans and debt.
Also all major government institutions are already in loss and running in huge deficits from PMLN's government era.
By Zafar Bhutta
Published: August 18, 2018
The power sector is to receive Rs817.5 billion from private and government clients. On the other hand, power consumers are paying Rs159 billion on account of taxes in electricity bills. PHOTO: FILE
ISLAMABAD: Though the previous Pakistan Muslim League-Nawaz (PML-N) government claimed to have brought about improvement in power production, it still passed on a gigantic circular debt of Rs1.148 trillion to the new government of Pakistan Tehreek-e-Insaf (PTI), which faces a bumpy road ahead.
The PML-N had come up with a slogan in 2013 that it would bring load-shedding to an end during its five-year tenure. It solely focused on setting up thermal power plants to increase electricity production, but failed to streamline and upgrade the transmission and distribution network, which could not bear the load of additional power generation.
Of late, the circular debt has become a mammoth challenge for all governments, including the Pakistan Peoples Party (PPP), which ran the government from 2008-13. The situation is no different for the new government which will have to deal with a debt burden of over Rs1 trillion.
In a meeting of the Senate special committee on circular debt on Friday, officials of the Ministry of Energy (Power Division) revealed that out of the total circular debt, Power Holding Private Limited (PHPL) had borrowed Rs582.86 billion whereas Rs566 billion was borrowed to cover receivables of power distribution companies.
The meeting, chaired by Senator Shibli Faraz, was informed that PHPL was to pay Rs153 billion in annual interest on the loans.
The Power Division had also requested the power-sector regulator to include the amount in consumer tariff, but the National Electric Power Regulatory Authority (Nepra) dismissed the plea. Nepra argued that the loans were not part of the development budget and were acquired for smoothly running the distribution companies.
The committee was told that the power sector was to receive Rs817.5 billion from private and government clients. On the other hand, power consumers were paying Rs159 billion on account of taxes in electricity bills.
It was revealed that the Central Power Purchasing Agency (CPPA) was receiving Rs66 billion out of the Rs100 billion charged in electricity bills.
During the meeting, the committee chairman and Senator Musaddik Malik traded allegations.
Faraz held the PML-N government responsible for the mess in power sector, to which Malik responded by saying he would walk out if his opinion was not heard. The committee chairman told Malik that he was disturbing environment of the meeting.
Malik argued that it was not possible to stop theft without installing smart meters, adding the loan offered by the Asian Development Bank (ADB) for the purpose had some drawbacks.
He emphasised that the government would have to bring improvement and efficiency in those power distribution companies where theft and losses stood quite high.
The committee noted that the circular debt would rise further after the production of electricity by new plants. Responding to that, Power Division officials said the government would have to enforce load-shedding in areas where losses and theft were high.
Published in The Express Tribune, August 18th, 2018.
SOURCE:
EXPRESS NEWS
https://tribune.com.pk/story/1783395/2-circular-debt-rs1-1tr-passed-new-govt/
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Circular debt has risen to 1.4tr rupees(1400 billion rupees ) from 1.148tr rupees(1148 billion rupees) because the government has to pay the circular debt to power companies along with loan on interest back to IMF and the treasury is nearly empty thanks to PMLN hence government is falling back on repaying loans and debt.
Also all major government institutions are already in loss and running in huge deficits from PMLN's government era.
AZ1
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PML-N govt took record loans that will take generations to pay, Senate body told
https://www.pakistantoday.com.pk/20...ill-take-generations-to-pay-senate-body-told/
https://www.pakistantoday.com.pk/20...ill-take-generations-to-pay-senate-body-told/
Champion_Usmani
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AZ1
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PML-N government adds to country’s indebtedness
Pakistan Muslim League (Nawaz) government's borrowing spree from external and domestic sources during the last five years leaves the country with external debt liabilities of $91 (against the 2013 total of $60.9 billion) and a domestic debt of Rs 16 trillion (against Rs 9.5 trillion in 2013). The PML-N government increased external debt by 49 percent and domestic debt by 69 percent. Interest payments as a component of current expenditure rose to Rs 1620 billion in 2018-19 from Rs 925 billion in 2013.
https://fp.brecorder.com/2018/06/20180601376365/
$40 billion loans in 66 years and $40 billion loans in last 4 years in Pakistan: Report
https://timesofislamabad.com/08-Jan...lion-loans-in-last-4-years-in-pakistan-report
Pakistan Muslim League (Nawaz) government's borrowing spree from external and domestic sources during the last five years leaves the country with external debt liabilities of $91 (against the 2013 total of $60.9 billion) and a domestic debt of Rs 16 trillion (against Rs 9.5 trillion in 2013). The PML-N government increased external debt by 49 percent and domestic debt by 69 percent. Interest payments as a component of current expenditure rose to Rs 1620 billion in 2018-19 from Rs 925 billion in 2013.
https://fp.brecorder.com/2018/06/20180601376365/
$40 billion loans in 66 years and $40 billion loans in last 4 years in Pakistan: Report
https://timesofislamabad.com/08-Jan...lion-loans-in-last-4-years-in-pakistan-report
Champion_Usmani
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