Inquiry into circular debt payments suggested

The Senate Standing Committee on Finance and Revenue unanimously adopted a report of its subcommittee that conducted a parliamentary investigation into alleged irregularities and undue payments made in June 2013 to retire Rs480 billion circular debt.
The subcommittee has unanimously recommended that the case should be referred to either the National Accountability Bureau or the Federal Investigation Agency while seeking recoveries of Rs60.7 billion from Independent Power Producers (IPPs).
Among the IPPs that may be affected from the recovery decision are Attock, Atlas and Nishat.
Published in Express Tribune, 10th May, 2017