Addressing circular debt is a priority: Dar

ISLAMABAD:

Finance Minister Ishaq Dar has said that it is the government’s priority to address the issues being faced in the energy sector – including circular debt – to bring financial sustainability to the sector and economic growth to the country.

Chairing a meeting on the reforms in the energy sector at the Finance Division on Saturday, the finance minister was briefed about the quantum of circular debt in the gas sector.

The convener of the committee, for settlement of the circular debt in the gas sector, Ashfaq Yousuf Tola apprised the minister of the modalities and framework required to introduce reforms in the sector.

The meeting also discussed viable proposals aimed at bringing sustainability to the energy sector.

Dar directed the committee to finalise their report and action plan for the early settlement of circular debt in the gas sector.

Separately, the finance minister chaired the first introductory meeting of the Reforms and Resource Mobilisation Commission (RRMC).

Welcoming the members of the commission, Dar highlighted the economic and financial outlook of the country.

“Despite inheriting a weak economic legacy, the government is determined to set the economy in the right direction and introduce reforms in various sectors to achieve economic stability and growth,” he said.

Highlighting the importance of the RRMC he said the aim of the commission is to identify issues in the existing taxation system, and its revenue policies, and to suggest relevant reforms required to be made to mobilise resources, promote the ease of doing business and achieve sustainable economic growth.

Published in The Express Tribune, January 22^nd, 2023.

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