Finance ministry decides to immediately pay back Rs50 billion in circular debt
ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government has decided to immediately pay back Rs50 billion in circular debt.
According to reports, the finance ministry decided has taken the decision after independent power producers (IPP) threatened that they will suspend power generation.
The ministry will initiate the phase-wise payment from Monday after the Ashura holidays and the weekend.
Reports added that on Monday, Rs34 billion will be paid to the Ministry of Power and the remaining Rs16 billion will be given at the end of next month, they added.
The Rs50 billion have been taken as loan from eight banks.