LCCI voices concern over rising circular debt

The Lahore Chamber of Commerce and Industry has expressed grave concern over record circular debt and expressed and feared of dire consequences in the days to come if issue is not controlled.

The LCCI President Malik Tahir Javaid commenting on the rising circular debt said that huge amount of circular debt would result in huge reduction in power generation that would hit all segment whether it is trade, industry, agriculture or masses.

He said that concerned departments have always chosen easy way to allow power distribution companies to charge from consumers heavy system losses. It caused huge damage to the trade and industry therefore business community will not accept this unjustified method or increase in power tariff anymore, he added. He also urged NEPRA not to facilitate and encourage the defaulters by writing-offs and putting whole burden on the shoulders of consumers.

Published in Business Recorder, 11th March, 2018