News
Wednesday, May 05, 2010
Govt releases Rs 20bn to PEPCO to clear circular debt
ISLAMABAD: The federal government has released the first instalment of Rs 20 billion to the cash-starved Pakistan Electric Power Company (PEPCO). This was done under the prime minister’s plan to provide PEPCO Rs 116 billion by June in order to clear the circular debt issue. “Yes, we have released Rs 20 billion to Rs 24 billion to PEPCO, while another instalment of Rs 50 billion will be provided within the next few days,” Finance Secretary Salman Siddiq told reporters after a meeting of the Senate Standing Committee on Finance and Revenue on Tuesday.
Courtesy www.dailytimes.com.pk