Pakistan's circular debt rises to alarming levels

Pakistan's circular debt rises to alarming levels
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ISLAMABAD: Pakistan 's circular debt has once again risen to alarming levels.

Rs250 billion has been added to the outstanding dues of the Pakistan State Oil (PSO) since June 2013.

Pakistan overall debt crossing disastrous levels

This is the highest amount of receivables in the accounts of the country’s largest fuel supplier that had peaked at Rs220bn in May 2013 before the government cleared the amount through a controversial scheme of cash payments and book adjustments.

On Friday, it reported to the government that its total receivables on Dec 1 had gone beyond Rs250bn.

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