Circular debt damaging economy.

ISLAMABAD -- The Pakistan Economy Watch (PEW) on Thursday said despite claims to reduce circular debt to zero by December 2020, it has reached to the mark of two trillion rupees becoming a grave threat to the economy. The infamous debt stood at Rs1.1 trillion when the government took charge while power tariff was increased repeatedly to tackle the debt but to no avail, it said. Despite an improvement in the law and order situation in troubled areas, recovery of electricity bills was not ensured in the areas where the government now enjoys writ and the burden is being transferred on those who pay their bills regularly, said Dr. Murtaza Mughal, President PEW. No serious efforts were initiated to reduce theft, improve recovery or introduce reforms in the bleeding...