Details of Rs480 billion circular debt pay-off released
Rs23 billion worth of debt still needs to be paid.
Rs23 billion worth of debt still needs to be paid. ILLUSTRATION: JAMAL KHURSHID
Ministry of Finance released details about the payment of circular debt to oil companies and power producers on Tuesday, Radio Pakistan reported.
A spokesperson of the ministry said in a statement that Rs480 billion worth of debt was paid and the details of the payments were posted on the official website of the ministry.
The total circular debt amounted to Rs503 billion prior to the payment.
The spokesperson said that Rs23 billion still needed to be paid. The figures and payments have not been independently verified .
Pakistan Muslim League-Nawaz (PML-N) government's much publicised new energy policy envisages an end to power outages within three years besides phasing out electricity subsidies for all but domestic consumers, using up to 300 units a month.
A spokesperson of the ministry said in a statement that Rs480 billion worth of debt was paid and the details of the payments were posted on the official website of the ministry.
The total circular debt amounted to Rs503 billion prior to the payment.
The spokesperson said that Rs23 billion still needed to be paid. The figures and payments have not been independently verified .
Pakistan Muslim League-Nawaz (PML-N) government's much publicised new energy policy envisages an end to power outages within three years besides phasing out electricity subsidies for all but domestic consumers, using up to 300 units a month.