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Budget 2021-22: No increase in tax rate of mobile phone calls, SMS, internet, says Shaukat Tarin

Finance Minister Shaukat Tarin addresses post-budget press conference day after government unveiled its people-friendly budget for fiscal year 2021-22 ....

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Circular debt rose to Rs2.306tr in November - Newspaper

Salman Khan
ISLAMABAD: The government confirmed on Thursday that power sector’s circular debt went past Rs2.306 trillion as of Nov 30, 2020, up by Rs156 billion over the first five months of the current fiscal year, at a rate of Rs31.2bn per month.
With this on the table, a meeting of the Cabinet Committee on Energy (CCoE) presided over by Planning and Development Minister Asad Umar was also informed by the Ministry of Information Technology that a meterless smart metering system successfully tested and proved on ground was not being adopted by power distribution companies.
The meeting was told that a bulk share of the increase in circular debt was poor governance in the public sector itself. It was noted that Rs156bn addition in circular debt included non-payment of budgeted and unbudgeted subsidy, delayed payments on account of interest to independent power producers (IPPs), other mark-ups, pending price adjustment on account of quarterly and monthly adjustments an ....

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