Rs80b settlement plan in jeopardy

ISLAMABAD: The Rs80 billion plan to settle circular debt suffers delay as the Auditor General of Pakistan is reluctant to conduct pre-audit of the debt to make way for the payment.

The Economic Coordination Committee (ECC) of the cabinet had approved the plan on March 7 and decided to immediately pay Rs80 billion to power producers and fuel suppliers, out of Rs526 billion worth of dues aimed at easing their financial constraints.

However, a senior official of the Ministry of Energy (Power Division) said that after the approval of the debt settlement plan, the Power Division had approached the auditor general to conduct pre-audit of the circular debt for paying the amount to different energy firms.

Published in The Express Tribune, 29th March, 2018