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Rs270b circular debt: Govt likely to divert privatisation proceeds to payment to IPPS

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ISLAMABAD: In the backdrop of invoking sovereign guarantees, the protesting Independent Power Producers (IPPs) are likely to get their payable dues from the proceeds of privatization. According to reports, the decision in this regard was reached at a recent meeting on energy sector held with Prime Minister Nawaz Sharif in the chair. It is to be noted that 25 IPPs ... Read More »

Circular debt – again  

04-save-electricity

Circular debt is the money which various government departments owe to PEPCO as electricity charges. When the government departments do not pay for the power they use, PEPCO fails to pay to various power producing units from where it purchases electricityand the power producing units cannot pay to oil companies to purchase fuel. This creates a circle of debt which ... Read More »

White paper of PTI a pack of lies: Dar

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ISLAMABAD: The Federal Minister of Finance and Economic Affairs Ishaq Dar has rejected the white paper issued by Pakistan Tehreek-e-Insaf on budget 2014-15 and declared it pack of lies. While addressing a news conference along with Privatization Commission Chairman Muhammad Zubair, he said the economy has been performing well and international institutions have also admired the economic policies of Pakistan. ... Read More »

No guarantee to retrieve billions from Swiss banks: Dar

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ISLAMABAD: Federal Minister for Finance Mohammad Ishaq Dar said that there is no guarantee to bring back Pakistani billions of dollars from Swiss banks. He was chairing a meeting on annual review of economic performance of government. “We had put economy of country on track” Federal Minister claimed. He revealed that circular debt of Pakistan was more than Rs 263 ... Read More »