Pakistan aims to curb gas sector's circular debt
Business
The step is being taken due to the IMF recommendations
ISLAMABAD (Dunya News) - Federal government has decided to reduce the circular debt of the gas sector in compliance with the International Monetary Fund’s (IMF) recommendations.
The circular debt of the gas sector is currently estimated to be 160 billion rupees. As per the new plan it will be brought down to 120 billion rupees; the government plans to reduce the debt by 400 billion rupees.
According to the ministry of finance 415 billion rupees in this regard will be released soon. The mutually prepared plan of finance and energy ministry has been finalized and already shared with the IMF.
Sources say that the funds disbursement will be made after getting IMF’s nod for the plan. Finance Minister Ishaq Dar wants to bring down the gas sector’s circular debt by next week.
