Tag: Circular

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday issued circular regarding the relief given to salaried class persons in the current fiscal year budget. According to...

The SECP has approved issuance of a circular directing all listed companies to give their shareholders the option of getting their cash dividend credited...

Chief Minister Punjab Mian Shahbaz Sharif Friday said they would hold the Prime Minister and the President accountable for 400 billion dollars circular debt....

Only those with their heads buried in the sand would’ve been seriously surprised by banks refusing lending for power projects till the circular debt...

The on going trade liberalization process with India is not only a good initiative to stimulate the economic activities in the country but also...

Prime Minister Yousaf Raza Gilani on Friday said the government had addressed the circular debt issue to a large extent and the resolution would...

Settlement of circular debt of power sector PSEs and public procurement agencies resulted in a substantial Rs572.2 billion increase in the stock of total...

The ministry of finance (MoF) and the country’s leading banks are said to have agreed to adjusting the existing circular debt-related term finance certificates...

The State Bank of Pakistan has announced that it will facilitate banks in case they require any regulatory support towards early resolution of the...

Circular debt has risen to over Rs360 billion during the last fiscal year, receivables of power sector entities alone have escalated to Rs240 billion...

Inter-corporate debt remains a burning concern for Pakistan State Oil (PSO) besides other public sector entities, necessitating solid steps by the government to resolve...

The Supreme Court on Wednesday directed the Sate Bank of Pakistan (SBP) governor to consult all stakeholders and issue a new circular for the...

Severe petrol shortage has hit Lahore in the last couple of days. A survey of various areas revealed that around 70 percent of the...

KARACHI - The lingering circular debt issue, coupled with heightened security concerns, has forced local oil and gas exploration companies to curtail exploration and development (E & D) activities. Industry analysts observed that E & D activities depicted a significant decline of 40 percent in the nine months of FY11, as a meager 30 wells were spudded in contrast with 50 wells in the same period last year. They further underlined that bifurcation of the number reflects the gravity of

ISLAMABAD - The Minister for Water and Power Syed Naveed Qamar said, on Tuesday, that the government plans to launch exchangeable bonds between $500 million and $1.0 billion for state owned Oil and Gas Development Company Limited (OGDCL) within this fiscal year. This would help permanently address the issue of inter-corporate circular debt in the power sector. Talking to the media after concluding session of the three day Pakistan Energy Conference 2011, the minister stated that

KARACHI - With its stock price having witnessed a steep fall in previous weeks (losing 11 percent in the last 10 trading sessions), the Oil and Gas Development Company (OGDC) still faces considerable problems, including potential delays in CAPEX plans and systemic circular debt.
Circular debt remains a key concern for the company as its trade debt have now soared Rs 107.9 billion as of December 2011. Similarly, the initial CAPEX target of $800 million is also likely to be missed

KARACHI - A massive Rs 148 billion of OGDC and Pakistan Petroleum Limited (PPL) has been stuck up in circular debt, creating liquidity problems for these two state-run mega oil and gas exploration companies. Different departments and organisations owed around Rs 108 billion to the OGDC and Rs 38 billion to the PPL by December, 2010. Both state-run mega companies are trying hard to recover their receivable amount worth billions of rupees, said a research report of Arif Habib Limited.