• Home
  • Business
  • Govt To Immediately Pay Back Rs: 50 Billion In Circular Debt
Business

Govt To Immediately Pay Back Rs: 50 Billion In Circular Debt

Federal Govt To Proximately Pay Back Rs: 50 Billion In Circular Debt

The federal government on Thursday has decided to immediately pay back Rs: 50 billion in circular debt. According to the confirmed sources of Finance Ministry the pronouncement has been taken after independent power producers (IPP) endangered that they will suspend power generation.

The phase-wise payment will be started from Monday after the Ashura holidays and the weekend, sources added.


On Monday, Rs: 34 billion will be paid to the Ministry of Power and the remaining Rs: 16 billion will be given at the end of next month, they added.

The Rs: 50 billion have been taken as loan from eight banks, sources further said.

Related posts

Tariq Jamali Appointed As President National Bank of Pakistan

Abeeha Zeeshan

Cyber Attack On Bank Islami Through International Payment Scheme

Adeel Sajjad

Finally, NBP has announced Profit Bonus 2017 for NBP Staff

zain

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.