• Okays Rs960bn sovereign guarantee for Rs1.225tr loans from local banks
• Says remittance incentives to be phased out with caution
• Gas allocated to fertiliser sector; LNG cost adjustments cleared for tariffs
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved an inter-corporate circular debt settlement plan, including tariff rationalisation for all six operational nuclear power plants in line with other power producers, thus also paving the way to wind up Power Holding Ltd (PHL), a shell company created to park old circular debt.
The meeting of the ECC, presided over by Finance Minister Muhammad Aurangzeb, also approved about Rs660 billion in sovereign guarantees for Rs1.225 trillion in commercial loans from local banks for circular deb
Continue Reading on Dawn
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.