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 ISLAMABAD: Federal Finance Minister Ishaq Dar has announced that the first installment of Rs 326 billion out of the total of Rs503 billion of circular debts would be paid to the Independent Power Producers (IPPs) today (Friday), Geo News reported.The finance minister as against his pledge to resolve the circular debt problem within sixty days in his budget speech much to the surprise of the people has come up with this good news on the 18th day of his promise, which will go a long way in providing some relief to the people whose lives had become unbearable because of the prolonged load shedding all across the country. Addressing the national assembly here, Federal Finance Minister, Ishaq Dar said that the government paying this Rs326 billion to the IPPs and banks in cash and bonds--- Rs194 billion in cash and Rs128 billion in bonds. He said that after payment of Rs326 billion the balance of circular debt would be reduced to Rs177 billion for which the payment deadline as promised by him was August 10 and he was hopeful that remaining amount would also be paid by middle of July. The finance minister also announced a Ramazan package of Rs2 billion, which would be utilized for providing items of food and beverages at subsidized rates to the people in the Holy month of Ramazan. |
