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ISLAMABAD:The circular debt in the energy chain, which stood at Rs105 billion at the end of Pervez Musharraf s tenure in 2008 and was parked in a holding company, has ballooned 454% to Rs582 billion in the past 10 years despite clearance of Rs480 billion worth of debt in mid-2013 by the Pakistan Muslim League-Nawaz (PML-N) administration,
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af1 shadow tuation during the tenure of Pakistan Peoples Party (PPP) government and later during the rule of PML-N administration when commercial borrowings from banks increased Rs477 billion.The PML-N government imposed several surcharges totalling Rs2.3 per unit to clear the debt of power distribution companies. However, despite that, the power sector remains a major challenge for the new Pakistan Tehreek-e-Insaf (PTI) administration.Country banking on CPEC to revive economyAccording to officials, total circular debt as on July 31,2018 amounted to Rs1.18 trillion, which included Rs596 billion of debt and R Sekm Irrfan Khan laid to rest in Mumbai
WASHINGTON:The United States on Friday stunned other members of the UN Security Council by preventing a vote on a resolution for a ceasefire in various conflicts around the world to help troubled nations better fight the coronavirus pandemic, diplomats said.Washington's reversal came a day after it agreed to the text, negotiators said under cover of anonymity. The United States cannot support the current draft, the country's delegation declared, without further detail, to the 14 other聽Security Council聽members, after nearly two months of difficult negotiation over the text.The latest stalemate continues to leave the global peace and security body largely mute in the face of a once-in-a-century聽pandemic聽that has killed more than 270,000 people and raised further fears for the world's most vulnerable.When asked for an explanation of the US move, a State De
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