Islamabad: Energy minister Owais Leghari has said circular debt amounting to Rs 120 billons is being eliminated without shifting its burden to the consumers for the first time in the history of country. .

He said this while addressing a joint press conference with finance minister and state minister for IT here Monday.

He held government is coming out of sale and purchase business of electricity.

He underlined under the directives of Prime Minister electricity tariff for industries was curtailed by Rs 16 per unit. Surplus electricity is being offered to people at the cost of Rs 7.5 per unit.

Additional payment of Rs 3600 billion was stopped till 2058 through talks with owners of power plants.

Energy minister said we have inherited costly energy. It costs Rs 9.97 per unit but devaluation of rupee and capacity charges have made it expensive.