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Food sector circular debts surge to Rs290b

Virtual Position Forum :: Policy Matters :: Business Affairs

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GMT + 3 Hours Food sector circular debts surge to Rs290b

Post by Noor Bangash Wed Sep 14, 2011 3:11 pm

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ISLAMABAD: The volume of food sector circular debts in the country amounts to Rs290 billion.

Finance ministry sources told Geo News that the government guarantee in the food sector was of Rs90 billion. Sources said that Rs200 billion loans in food sector have been disbursed against mortgages.

Meanwhile, finance ministry spokesman, Rana Asad Amin told Geo news that the ministry has made all the payments to Pepco and no amount is outstanding now. No amount is payable by the government on account of circular debts in the energy sector and the rest has to been done by the oil and energy sector itself clearing and lowering the circular debts.






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