ADB and circular debt: Famous news outlets reporting false & misleading content

Many major news outlets had to face the heat for publishing stories that are false, partial or misleading.

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  • ”ADB quoted the circular debt of August, which was before subsidy”, Omar Ayub Khan
  • “So much for the skeptics who challenge our figures. Time to eat humble pie for them”, Jahangir Tareen

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Dishonest reporting is causing a trust deficit among people worldwide. Many major news outlets have taken the heat for publishing stories that are false, partial or misleading.

Recently, Asian Development (ADB) has shown that at the end of August, the circular debt of Pakistan has increased by Rs21 billion. However, the government previously claimed that the flow of circular debt has reduced to Rs12 billion a month.

Omar Ayub khan’s Response

After a Pakistani publication posted the news, the Federal Minister for Energy, Omar Ayub khan responded on his twitter and said, “Rejoinder to the news item the gross circular debt buildup for Q 1 was Rs 77 bn. This number was before subsidy payment (TDS) in the budget. So of this 77 bn, Rs 39 bn is paid by the budget leaving only 38 bn as a net addition to Circular debt which translates to about 12 bn a month”.

He further explained that ADB quoted the circular debt of August, which was before subsidy. He informed that the news outlet stated ”ADB acknowledges a drastic reduction in circular debt”.

Prominent PTI politician, Jahangir Khan Tareen, also took twitter to express his views in this regard. He stated that Omar Khan and his team have done an excellent job in remodeling the energy sector. By controlling only theft and recoveries, they saved Rs 112b.

He further appreciated the efforts of Nadeem Babar and Secretary Power Erfan Ali. Tareen is positive that Circular debt will be brought to zero by the end of 2020.

As far as responding to the reporting of the famous news outlet is concerned, Tareen stated that “so much for the skeptics who challenge our figures. Time to eat humble pie for them”.


Also See:

‘The News’ Apologizes For Posting Fake News About CPEC

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