ISLAMABAD – The federal government on Thursday decided to immediately payback Rs50 billion in circular debt.
According to the sources of the Finance Ministry, the decision has beentaken after independent power producers (IPP) threatened that they willsuspend power generation. They said that the phase-wise payment will beinitiated from Monday after the Ashura holidays and the weekend.
The sources also said that Rs34 billion will be paid to the Ministry ofPower on Monday and the remaining Rs16 billion will be given at the end ofnext month.
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They also revealed that the Rs50 billion have been taken as loan from eightbanks.
