ISLAMABAD, DEC 11 (DNA) _— With the country’s economic situation getting appalling, the documents have revealed that Pakistan’s energy sector is running completely on credit.

The circular debt in the energy sector is also swelling as the government is unable to pay dues to independent power producers (IPPs). The documents containing details of dues of the energy sector revealed that it is running on credit amid the poor economic situation, a private television channel reported Sunday.

The documents disclosed that Pakistan State Oil (PSO) is facing a severe liquidity crunch as its circular debt has soared past Rs615 billion as gas and power companies fail to clear their dues.

As per documents, Pakistan International Airlines (PIA) had purchased oil worth Rs43 billion from PSO but the national flag carrier hasn’t cleared the dues yet. Similarly, the power plants are also purchasing oil from PSO on credit.

Besides this, the power sector has outstanding dues worth Rs177 billion and gas companies have around Rs394 billion under oil and liquefied natural gas (LNG) purchases. =DNA

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Punjab CM decides to increase wheat quota of major cities

LAHORE, DEC 11 (DNA) _— Punjab Chief Minister has decided to increase wheat quota of major cities including Lahore and Rawalpindi. The second meeting of the cabinet standing committee on wheat was held under the chairmanship of CM Parvez Elahi in which the release policy, issuance of quota, existing reserves and demand of wheat were reviewed.

Chaudhary Parvez Elahi said that Punjab being the agricultural province is following the policy of self-sufficiency in wheat production. The Punjab government has saved Rs55 billion in a month through effective wheat strategy, another Rs2 billion have also been saved by financial discipline.

The chief minister directed that the farmers should be made aware of the use of high-yielding seeds of wheat, adding that the supply of flour to the public should not be interrupted. Secretary and Director Food briefed about the current position of wheat reserves and requirements.

Federal ministers Raja Muhammad Basharat, M. Mohsin Laghari, Sardar Husnain Bahadur Dareshk, Syed Hussain Jahania Gardezi, Chief Secretary Abdullah Khan Sumbul, Principal Secretary to CM Muhammad Khan Bhatti, Secretaries of Food, Agriculture, Finance and former president Bank of Punjab Hamesh Khan were also present in the meeting. =DNA