Circular debt rises to Rs573bn during PML-N tenure

ISLAMABAD: Pakistan’s circular debt volume rose to Rs573 billion during the PML-N tenure with negative implications on oil and gas sector.

The country’s largest Oil and Gas Development Company Limited (OGDCL) receivables are Rs292 billion as on April, 2018, including Rs90 billion on account of late payment surcharge. Major defaulters are gas utilities and oil refineries, OGDCL owes Rs118 billion to different parties.

Published in Business Recorder, 1st June, 2018