ISLAMABAD: After a lot of questioning over not revealing details of payment of staggering amount of Rs. 480 billion on account of circular debt, Ishaq Dar’s ministry has released the break up at last.
According to a Finance Ministry official, break up of payments of Rs 480 billion to settle circular debt of Rs 503 billion is uploaded on the ministry website.
Explaining the remaining amount of 23 billion rupees, the official that this amount represents liquidated damages.
The government has paid Rs. 161 billion to Independent power producers as cash payments and an equal amount to Oil & Gas Development Company Limited; Pakistan Petroleum Limited and Pakistan State Oil. About 138 billion rupee non cash settlement relate to Water & Power Development Authority, NTDC‚ Gencos and nuclear plants.
For further details you could read this detailed report.
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