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Finance Ministry releases details about payment of circular debt to oil, power companies

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ISLAMABAD: The Finance Ministry has released the details about payment of circular debt to oil companies and power producers.

A Spokesman of the Ministry said in Islamabad details of payments of 480 billion rupees to settle the circular debt of 503 billion rupees are now available on the official site of the ministry.

He said the balance of twenty three billion rupees represents liquidated damages.

Of 480 billion rupees‚ over 161 billion rupees have gone as cash payments to IPPs and an equal amount to OGDCL; PPL and PSO. Non-cash settlements worth 138 billion rupee relate to WAPDA NTDC‚ Gencos and nuclear plants.

Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon and can also be approached on Google+

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