Govt targets Rs415bn reduction in gas circular debt

MG News | July 28, 2023 at 03:06 PM GMT+05:00

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July 28, 2023 (MLN): The government is taking measures to address the mounting gas circular debt that has surged to Rs1.6 trillion, in accordance with the conditions set by the International Monetary Fund (IMF), as per media reports.

The government has formulated plans to reduce the gas circular debt during the upcoming week, by over Rs415 billion.

To meet the IMF's requirements and combat the increasing debt burden, the government has shared its strategies with the international financial institution.

The Ministry of Finance has granted approval for the release of the aforementioned sum, which will be instrumental in easing the gas circular debt.

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