Circular debt reaches Rs596bn, ECC told
Last updated on: 29 August,2018 08:08 pm
Finance Minister Asad Umar chaired the ECC meeting.
ISLAMABAD (Dunya News) – A meeting of the Economic Coordination Committee (ECC) Wednesday set up various bodies to come up with suggestions to tackle Pakistan’s circular debt.
The ECC, which met under the chair of Finance Minister Asad Umar, was told that the country’s circular debt stood at a staggering Rs596 billion after an increase of Rs30 billion in July.
“Another Rs582 billion are parked with power holding companies under the STFF arrangements. The total liability currently stands at Rs1188 billion,” according to information made available by the Press Information Department.
The finance minister directed officials concerned to share details with the public in order to make decision making a transparent and inclusive exercise.
The newly formed committees were asked to present their suggestions and strategies in the next ECC meeting scheduled for Monday. The committee would later present its recommendations to the members of the federal cabinet.