No decision on circular debt

ISLAMABAD - The long hours meeting of different ministries on circular debt and line losses remained inconclusive on Monday, as no decision was taken to eliminate the two said issues. According to the sources, Federal Finance Minister Dr Abdul Hafeez Shaikh chaired the meeting wherein the officials of the water and power ministry gave detailed presentation. The officials of the finance ministry, water and power ministry, petroleum ministry, Pepco and planning commission, attended the meeting. Sources told TheNation the meeting did not decide to increase power tariff by two per cent with immediate effect. However, it would be increased in next few days. It was informed that the cost of electricity was increasing due to raise in the cost of gas and oil, therefore, it was important to increase the tariff by 12 per cent annually.

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