Minister for Finance and Revenue Ishaq Dar on Friday reiterated that the government would clear the circular debt before the deadline of August 20, as the return of over Rs 322 billion owed to private companies was continuing.
“Transaction of returning circular debt to private sector companies is continuing and banks are paying off Rs 322 billion to these companies,” he told the National Assembly on Friday.
Dar hoped that once done, this would add about 1,700MW of electricity to the national grid system and help mitigate load shedding.
The minister said the Economic Coordination Committee had decided to procure another 100,000 tonnes of sugar and the Trading Corporation of Pakistan (TCP) had been directed to procure and release the said quantity of sugar to Utility Stores Corporation (USC) to meet requirement in the holy month of Ramadan.
Speaking on a point of order, the minister informed the House about the decisions made by the ECC, saying the committee had approved Ramadan Package worth Rs 2 billion.
He said essential items, including wheat flour, ghee, oil, gram pulse, gram flour, dates, rice, sugar, pulses and other such items would be available at all outlets of utility stores on reduced rates.
“About 10% to 30% concession would be provided on these products as compared to the market prices,” he added.
Meanwhile, the finance minister also laid before parliament the papers of schedule of authorised expenditure 2013-14, supplementary schedule of authorised expenditure 2012-13 and also laid excess schedule of authorised expenditure 1990-91, 1992-93, 1994,95, 1997-98 and 2001-02.
The finance minister also announced two honorariums for the employees of National Assembly and Senate.
“I had pledged and now I am delivering it. I announced two honorariums for the employees of NA and Senate,” he said.
The transaction of returning a circular debt to private sectors by the bank is very much high at the point and it must be cleared very soon by the Ishaq Dar.
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