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ISLAMABAD, Jun 10 (APP):Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Tuesday said that the power sector circular debt was expected to reach around Rs 454 billion in the current fiscal year.
In a budget speech, the minister revealed that during the previous year, circular debt in power sector was witnessed Rs 2, 393 billion.
Muhammad Aurangzeb said that the federal government intended for refinancing of expensive loans as per Islamic laws and affordable rates through Bank Financing.
He said that submission of current loan would not only be utilized for debt servicing surcharge and mark-up but also for submission of actual loans as well.