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Circular Debt, Report

Circular Debt, Report

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Published by Hira Noor
Circular debt is a persistent and a growing problem of Pakistan. Especially circular debt is striking the companies related to oil and gas. The circular debt of Pakistan has reached up till Rs 258.5 billion i.e. 1.5 times the last year and is increasing monthly at the rate of Rs. 5 to 10 billion. The major reason of the circular debt is that in 2006 PEPCO, a core entity in energy sector was not paid its payments and so it was forced to take loans from bank to meet its expenses.
Circular debt is a persistent and a growing problem of Pakistan. Especially circular debt is striking the companies related to oil and gas. The circular debt of Pakistan has reached up till Rs 258.5 billion i.e. 1.5 times the last year and is increasing monthly at the rate of Rs. 5 to 10 billion. The major reason of the circular debt is that in 2006 PEPCO, a core entity in energy sector was not paid its payments and so it was forced to take loans from bank to meet its expenses.

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Published by: Hira Noor on Feb 02, 2012
Copyright:Attribution Non-commercial

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06/01/2014

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CIRCULAR DEBT IN PAKISTAN
 
2011
 
1
SUBMITTED TO: DR. ABDUL WAHEEDDATE OF SUBMISSION:4 NOV, 2011
IQRA
UN
IVERSITY 
 
C
IR
CUL
 AR
D
EBT
 
I
N P
 AKISTA
N 
SUBMITTED BY:HIRA NOORASRA OBAIDASMA UROOJSAMEER AHAD HAQ
 
CIRCULAR DEBT IN PAKISTAN
 
2011
 
2
 
ACKNOWLEDGEMENT
 
We are deeply indebted to our instructor Dr. Abdul Waheed whose help, stimulating suggestionsand encouragement helped us in writing this report.
 
CIRCULAR DEBT IN PAKISTAN
 
2011
 
3
 
TABLE
 
OF
 
CONTENTS
 
I
NTRODUCT
I
ON
 
TO
 
C
I
RCULAR 
 
DEBT
............................................................................. 5HISTORY OF CIRCULAR DEBT .......................................................................................... 5
ANALYS
I
S
 
OF
 
C
I
RCULAR 
 
DEBT
........................................................................................ 6CAUSES OF CIRCULAR DEBT ........................................................................................... 61) OUTSTANDING BILLS OR PAYMENTS ....................................................................... 62) TARIFFS AND SUBSIDIES ............................................................................................ 63) LIQUIDITY TRAP ........................................................................................................... 74) IMPORT AND EXPORT (TRADE BALANCE) ............................................................. 75) GOVERNMENT POLICY................................................................................................ 7CURRENT SITUATION OF CIRCULAR DEBT IN PAKISTAN ......................................... 8MEASURES TAKEN BY THE GOVERNMENT .................................................................. 9IMPACT OF CIRCULAR DEBT ON PAKISTAN¶S ECONOMY ....................................... 101) COMPROMISED BALANCE OF PAYMENT ............................................................... 102) DEPRIVED FOREIGN RESERVES .............................................................................. 103) EFFECTED GDP ............................................................................................................ 104) INCREASED LOAD SHEDDING .................................................................................. 115) SHORTFALL OF CASHFLOWS IN ENERGY SECTOR .............................................. 116) DECREASED INDUSTRIAL OPERATIONS ................................................................ 117) SOCIAL EFFECTS ......................................................................................................... 118) INCREASED PRICES .................................................................................................... 11COMPANIES MOST AFFECTED BY CIRCULAR DEBT ................................................. 12
RECOMMENDAT
I
ON
.......................................................................................................... 12
CONCLUS
I
ON
....................................................................................................................... 13

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