IMF greenlights dividend plug-in back scheme to slash gas sector's revolving debt

MG News | August 09, 2023 at 11:01 AM GMT+05:00

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August 09, 2023 (MLN): In a significant move aimed to reduce the burden of the gas sector's revolving debt, the International Monetary Fund (IMF) has given approved a revolutionary dividend plug-in back scheme.

This scheme, once implemented under the supervision of the incoming caretaker finance minister, is poised to make a notable dent in the mounting debt crisis faced by the sector.

Sources familiar with the matter have informed Mettis Link News that the approved groundbreaking scheme is set to become operational imminently.

This plug-in back scheme is likely to have a sweeping impact, with a projected reduction of a staggering Rs400 billion in the gas sector's revolving debt.

Under the provisions of the scheme, dividends are attributed to major players within the gas sector, including Oil and Gas Development Company Limited (OGDC), Pakistan Petroleum Limited (PPL), and Government Holding Private Limited (GHPL).

This strategic adjustment will not only reinvigorate the financial health of the sector but also strengthen newfound investor confidence.

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