PML-N leader Miftah Ismail said that the revolving debt is increasing by Rs600 billion annually.

ISLAMABAD (Dunya News) – Pakistan Muslim League-Nawaz (PML-N) on Sunday while calling the increase in electricity tariffs “extreme cruelty” demanded the government to immediately withdraw the decision.

In a statement, former finance minister Miftah Ismail said that the government deprived the masses of another Rs200billion, adding that the circular debt has reached to the highest level.

Explaining the reasons for the increase in electricity tariff, the former finance minister said that the increase in electricity prices was due to a raise in the country s revolving debt.

“We left revolving debt at about 1036 billion, which has now crossed 2400 billion,” the Miftah said and added each month circulatory debt in power sector being increased by 50 to 60 billion rupees.

The PML-N leader went on to say that Prime Minister Imran Khan had claimed to bring the revolving debt to zero by increasing the price of electricity as soon as he came into power, however, it grows by Rs50 to Rs60 billion per month due to expensive power generation.

“Annually, the revolving debt is increasing by Rs600 billion which is mostly due to losses incurred in transmission and distribution of electricity,” he added.