Rs100 bln to be released soon on account of circular debt: Miftah

ISLAMABAD, April 28 (APP):Minister for Finance Dr Miftah Ismail Saturday said the government would soon release Rs100 billion to Independent Power Producers (IPPs) on account of circular debt.
Addressing the post budget press conference along with Adviser to PM on Revenue Haroon Akhtar Khan, Chairman Federal Board of Revenue Tariq Pasha and Secretary Finance Arif Khan, he said the government was making serious efforts to clear the circular debt judiciously and at the earliest.
The minister said the government had added over 12,000 MW additional electricity in the national grid during the last five years, which is a record in the national history, adding ”Increased power generation caused surge in circular debt.”