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Government unveils three-year plan to clear Rs3.6 trillion gas circular debt

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At a glance

  • Government proposes a 3-year plan to clear Rs3.6 trillion in gas sector debt.
  • The plan is a key condition for an agreement with the IMF.
  • Measures could lead to higher gas prices for consumers.

Story so far

Pakistan's gas sector is burdened by a circular debt of Rs3.6 trillion, comprising Rs1.5 trillion in principal and Rs2.1 trillion in accumulated interest. To address this and meet a condition set by the International Monetary Fund (IMF), the government has formulated a three-year plan to clear the debt. The proposal involves using gas company dividends, petroleum levies, and other savings, but it may also result in increased gas prices for consumers. The plan is pending final approval after consultations with the IMF.

Latest development

The federal government has announced a three-year plan to eliminate the gas sector's circular debt, which has reached Rs3.6 trillion. The proposal, aimed at satisfying a key IMF condition, will be presented to the Fund for review in late September.

Sources and updates

Usama MehboobUsama MehboobEditor
Categories: Business & Economy
Tags: , , ,

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