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Express Tribune
11-07-2025
- Business
- Express Tribune
Circular Debt of Pakistan: Understanding the Crisis
Power minister has said that the circular debt is almost stagnant due to the better performance. PHOTO: REUTERS Circular debt is a major financial problem in Pakistan's energy sector, created by a mismatch between the cost of generating electricity and the revenue collected from consumers. It involves a complex chain of payments between different stakeholders, including power generation companies (IPPs), suppliers, distributors (Discos), gas utilities, and the government. As of now, Pakistan's energy sector faces a massive deficit, with circular debt accumulating to around Rs2.3 trillion. This growing debt has significant economic implications, leading to inefficient power supply, higher electricity costs, and fiscal stress on the government. What is Circular Debt? Circular debt refers to the financial shortfall in Pakistan's energy sector, where various entities involved in electricity generation, supply, and distribution owe large amounts of money to each other. The problem is rooted in poor management, delayed payments, and inefficiencies in revenue collection. The key players involved in this circular chain include the federal government, independent power producers (IPPs), government-owned power supply companies (Gencos and Discos), energy suppliers, and the financial institutions that finance the sector. These players often fail to pay one another on time, causing the debt to spiral out of control. How Circular Debt Has Grown Circular debt in Pakistan's energy sector has grown significantly over the years due to several factors: Low Recoveries & Theft: Power companies struggle to recover payments from consumers, and widespread theft further exacerbates financial losses. Unreimbursed Tariff Subsidies: The government has failed to fully compensate power companies for the tariff subsidies, increasing the debt burden. Misaligned Billing Cycles: Billing inefficiencies and long delays in the collection process lead to a backlog of unpaid dues. Capacity Payments: IPPs are required to make large capacity payments, regardless of whether electricity is generated or consumed. This contributes to the increasing debt as power plants get paid without generating enough electricity to cover costs. As a result, the total circular debt has reached staggering amounts, leading to an unbalanced energy market where costs are passed down to consumers and institutions that are unable to meet their obligations. Key Components of Circular Debt The circular debt issue in Pakistan is divided into three main components: Payables of PSC (Power Supply Chain): These are the costs incurred by the power supply chain, including losses from electricity theft, unpaid bills, and support for life-line consumers. Payables of ESC (Energy Supply Chain): The ESC is burdened by unpaid fuel bills, especially for gas and other essential energy resources. Payables of GOP (Government of Pakistan): The government owes significant amounts due to subsidies for power generation and distribution, as well as unpaid payments to energy companies. Government's Response and Proposed Solutions To address the growing circular debt, the Government of Pakistan has begun implementing several measures to resolve the issue. These steps focus on managing the debt more effectively, streamlining payments, and negotiating better terms with stakeholders. Debt Settlement Efforts: The finance ministry has started discussions with IPPs and other stakeholders to settle the existing circular debt. Negotiations include restructuring payment terms and adjusting tariffs to lower the debt. Debt Service Surcharge (DSS): A new DSS of Rs3.23 per kWh has been introduced, which will be added to electricity bills. This surcharge will help generate funds to pay off the outstanding debt to banks and other financial institutions. Interest Rate Adjustments: The KIBOR (Karachi Interbank Offered Rate) has been adjusted to ease the debt burden, which will reduce the overall financial pressure on the sector. Improving Cash Flow Management: The government has stressed the importance of transparent and real-time tracking of financial flows to better manage the circular debt and ensure timely payments. Why Circular Debt Has Spiraled The circular debt crisis in Pakistan's energy sector has spiraled out of control for several reasons: Low Payment Recoveries: One of the main causes of the growing debt is the inability of power companies to recover payments from consumers. This is exacerbated by inefficiencies in billing and distribution. Theft and Mismanagement: Power theft is rampant across the country, leading to significant financial losses. Poor management and a lack of accountability have only worsened the situation. Structural Inefficiencies: The energy sector suffers from misaligned tariff structures, inadequate infrastructure, and weak planning, which causes delays in generating sufficient revenue to cover costs. Governance Failures: A lack of effective governance and sector regulation has led to inflation in power tariffs and inefficiencies that have compounded the financial crisis. Solutions and Future Roadmap Moving forward, the Pakistani government must focus on comprehensive reforms to tackle circular debt in the energy sector: Improving Billing and Collection Systems: The government needs to reform the billing process to ensure timely payments and minimize losses due to inefficient systems. Better Financial Management: Effective cash flow management, including real-time tracking of payments, will help reduce inefficiencies and increase accountability. Addressing Structural Inefficiencies: Tariffs must be reviewed and aligned with actual costs to ensure the sector remains financially viable in the long term. Governance Reforms: Stronger governance and accountability measures will help improve sector management, reduce financial mismanagement, and ensure that funds are used effectively. The circular debt problem in Pakistan's energy sector is a complex challenge that requires a multi-pronged solution. While the government has made strides in addressing the issue, long-term success depends on structural reforms, improved financial management, and better governance. By implementing these measures, Pakistan can begin to reduce its circular debt, improve energy supply, and create a more sustainable energy market for the future.
BBC News
10-07-2025
- Politics
- BBC News
Plans to cover stream on walking route in Guernsey on hold
Plans to cover a stream on a pedestrian route to allow cycle access in Guernsey have been put on hold. Following a strong public reaction, Education, Sport and Culture (ESC) requested a six-month extension to the idea of metal grates over the stream on the Water States of Guernsey said the initiative was a result of conditions placed on the Les Ozouets Campus at the time it received planning outlined that the area required improvements for pedestrians and cyclist accessibility between La Couture and Les Ozouets. 'Constructive discussions' The States said plans had to be submitted within six months of work starting on the of the committee for ESC Deputy Paul Montague said the extension would allow alternative options to be looked at and discussions to take place about the planning requirement itself."Safe access to the Les Ozouets Campus for students travelling to and from The Guernsey Institute is clearly very important, however I am very keen that we find a way to achieve this without materially changing an important green space," he said."We will still have to review ways that we can improve active travel routes to Les Ozouets, and it may be the case that we need to return to this idea if there is no alternative, but we will be sure to engage with the public about those options. "I've been very grateful for the constructive discussions that have already taken place," he added.
BBC News
10-07-2025
- Sport
- BBC News
Anger over plan to cover stream on Guernsey walking route
An idea to cover part of a stream on a pedestrian route to allow cycle access in Guernsey should be abandoned, say Sport & Culture (ESC) is considering the idea of metal grates over the stream on the Water Lanes as part of a planning application to improve accessibility to the Les Ozouets education 300 people have signed a petition objecting to covering the stream where children like to play, according to objector Darren Davison.A spokesperson for ESC said the scheme improved pedestrian and cyclist access to the campus via the Water Lanes and avoided a nearby road. Mr Davison, landlord of La Couture Inn, said: "I was quite shocked, I thought it was an April Fool's joke to cover over the Water Lanes which is at the heart of the community."I understand why they want cyclists to avoid Collings Road but people using it regularly will be uncomfortable with cyclists using it all the time."A spokesperson for ESC said in 2022, a planning condition required it to improve pedestrian and cyclist access between La Couture and Les Ozouets via the Water Lanes. The alternative, Collings Road, was narrow and unsafe, they said.
The Sun
10-07-2025
- Automotive
- The Sun
Arrow Electronics Launches Engineering Solutions Center to Support Tech Innovation Across India and Southeast Asia
BANGALORE, INDIA - Media OutReach Newswire - 9 July 2025 - Arrow Electronics, a global provider of technology solutions, today announced the launch of its new Engineering Solutions Center(ESC) in Bangalore, India. This expansion reinforces Arrow's commitment to making critical technologies such as AIoT, edge computing, intelligent sensing more accessible, while strengthening the engineering capabilities of domestic technology manufacturers across key sectors including industrial, automotive and transportation, energy management, and aerospace and defense in India, Southeast Asia, South Korea, and Japan. India and several Southeast Asian countries are rapidly emerging as pivotal hubs for technology manufacturing, driven by global supply chain diversification and supportive domestic policies. The newly established India ESC is designed to help innovators and technology manufacturers adopt advanced technologies such as edge computing, energy management, automation, and e-mobility. The center aims to accelerate the development and deployment of next-generation intelligent and connected products—bringing them to market faster and more cost-effectively. 'Innovators across the region often face challenges in adopting cutting-edge electronic components and software technologies due to limited in-house engineering capabilities for rapid product development,' said Dr. Raphael Salmi, president of Arrow Electronics' components business for South Asia, Korea, and Japan. 'By leveraging our global network of resources, deep engineering expertise, and strong local presence, Arrow acts as a trusted technology partner—bridging the gap between innovation and execution.' Arrow's ESC offers comprehensive design engineering expertise across every stage of the product development lifecycle. Staffed by a sizable team of highly skilled application engineers with deep expertise in embedded software, wireless connectivity, power and analog technologies, and IP&E (Interconnect, Passive & Electromechanical) components, the center provides tailored engineering support to accelerate innovation and reduce time to market. Key areas of support include: • Component Engineering: Expert guidance on technology selection for MCU/MPU/FPGA, SoC, wireless connectivity, power & analog , and IP&E components • System Engineering: In-depth system-level design reviews, block diagram validation, and bill-of-materials (BOM) optimization • Reference Design Solutions: Serve as a technical backbone by offering system level reference design to accelerate customer's time-to-market and enhancing customers confidence in designing our products. The resources also encompass in-market expertise, technical training, ready-to-use software, component samples, along with world-class supply chain services—all aimed at accelerating the journey from ideation to design to impact. For more information, visit:
The Guardian
09-07-2025
- The Guardian
Queensland police charged woman with driving offences while she was fleeing domestic violence
A Queensland court has thrown out the police case against a woman who was charged with driving offences while fleeing domestic violence with her dog. The Gympie magistrates court accepted the unchallenged evidence of the woman – referred to as ESC – that she drove while disqualified after her violent partner threatened to kill her dog. She successfully defended the charge on the grounds that the situation constituted an 'extraordinary emergency'. The court heard that since the woman was charged with driving while disqualified, a domestic violence protection order has been issued against her former partner, naming her as the 'aggrieved' person. Magistrate Bevan Hughes found that the man's threat to kill the dog was 'a well-recognised act of coercive control' and 'the latest incident in an ongoing pattern of domestic violence … including being physically violent … locking her out of the house, breaking things, damaging her property, falsely accusing her of what he believed to be inappropriate behaviour, and trying to make her feel bad about furthering herself'. Police prosecuting the case argued that ESC's demeanour was 'not consistent with escaping danger' and that she could have used her phone to call for help, driven to the closest police station 'or a nearby fertiliser factory', or alerted the intercepting police when she was pulled over. Sign up for Guardian Australia's breaking news email Hughes said that 'consistent with holistic principles for assessing domestic violence' he did not consider her emotional state as determinative of her situation. '[ESC] is not expected to be wiser or better than an ordinary person in the same circumstances. She must act quickly and do the best she can. A person is not to be condemned simply on the basis that in the agony of the moment and without the opportunity to weigh up and deliberate upon what action to take, she made a wrong choice.' The court also heard that ESC had previously attempted to report domestic violence to police, and that she believed she was not taken seriously. Hughes said that belief was 'honest and reasonable' given her unrefuted evidence that, on an earlier occasion, it had taken police more than six hours to attend after making a complaint about her former partner. 'Like many institutions who serve the public, the quality of the police response will often depend on the skill, training and insight of the investigating officer,' Hughes found. 'Police resources are limited and delay in response time can have many reasons. But that does not detract from the reasonableness of the defendant's belief because the consequence for her is the same – her concern not being readily addressed by police. 'It is well recognised – albeit belatedly – that victims may not immediately report domestic violence, whether it be due to concerns about retribution from the perpetrator or concerns about obtuse responses from authorities. 'This then makes it reasonable for her to consider other options to remove herself from imminent danger to a place of safety.' Hughes also found that it was unreasonable to suggest the woman should have driven herself to the fertiliser factory, where she did not know anyone. 'The defendant was an isolated and vulnerable woman seeking refuge from an imminent threat of domestic violence,' he said. 'She removed herself from that extraordinary emergency by removing herself and her valued companion from the source of that threat by driving to the nearest place of refuge. It is reasonable to expect an ordinary person in that situation to have acted in that way.' In Australia, the national family violence counselling service is on 1800 737 732. In the UK, call the national domestic abuse helpline on 0808 2000 247, or visit Women's Aid. In the US, the domestic violence hotline is 1-800-799-SAFE (7233). Other international helplines may be found via
