Govt decides to pay Rs50 billion in circular debt
Rs50 billion have been taken loan from eight Pakistani banks
ISLAMABAD (Dunya News) – Government on Thursday decided to immediately pay Rs50 billion in circular debt.
Sources privy to the Finance Ministry told Dunya News that the decision was taken after independent power producers (IPP) threatened to suspend power generation.
“The phase-wise payment will be started from Monday due to the Ashura holidays and weekend,” sources added.
A sum of Rs34 billion will be paid to the Ministry of Power on Monday, while the remaining Rs16 billion will be given at the end of next month.
Sources further added that Rs50 billion have been taken loan from eight Pakistani banks.
