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What is Circular Debt? What is Circular Debt?

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  #1  
Old Thursday, April 29, 2010
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Default What is Circular Debt?
This term "circular debt" is being used a lot these days in explaining the causes of power shortage in Pakistan.
Could somebody shed light on this term so that a layman like me is able to understand it.
Thanks.
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Old Thursday, April 29, 2010
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It refers to the debt prevailing among different departments of the government over the power usage charges. for example PEPCO supplies power to all the governments departments nd also to KESC but all these do not pay for the power they use. PEPCO in turn has to pay to various IPPs from where it purchases power but as it dun gets it money so it cant pay to IPPs. IPPs in turn have to pay to oil companies to purchase fuel which they cant pay. so this is a circle of debt due to which power production of IPPs suffer
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  #3  
Old Thursday, April 29, 2010
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So it is like the circular road of lahore, you start from Dheli Gate and end up at the same gate after covering the whole distance around the walled city.
Ultimatly, the Fed. Gov. has to pay to clear the situation.
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Old Saturday, May 01, 2010
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Just informed by a friend that GOP has printed Rs. 81.6 billion for making payments to IPPs to break the circle of circular debt. Get ready for the new wave of inflation in the country.
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