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The News
13/11/18

Short Description
ECC allows Rs36bln financing for circular debt

Detail Description
Government on Monday allowed the ministry of energy to secure around Rs36 billion from a syndicate of banks to defray power sector’s outstanding payments that reawakened the energy woes.Finance Minister Asad Umar took the decision at a meeting of the Economic Coordination Committee (ECC) of the Cabinet. “The ECC considered and approved the proposal of the ministry of energy (power division) for raising fresh financing of Rs35.806 billion through a syndicate of banks for PHPL (Power Holding Private Limited),” the finance ministry said in a statement.

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