Petroleum sector sees 50% improve in round debt throughout PTI regime

  • Hammad Azhar informs Nationwide Meeting about petroleum sector money owed throughout the meeting session.
  • Federal minister says petroleum sector’s round debt has elevated by nearly 50% throughout the three years of the PTI authorities.
  • Says round debt in June 2018 was Rs0.7 trillion which swelled to Rs1.1tn by Could 2021.

ISLAMABAD: Federal Minister for Power Hammad Azhar on Thursday stated that the petroleum sector’s round debt has elevated by nearly 50% throughout the three years of the PTI authorities.

Azhar made the assertion whereas informing the Nationwide Meeting about petroleum sector money owed throughout the query and reply session.

“The round debt in June 2018 was Rs0.7 trillion which swelled to Rs1.1tn by Could 2021,” stated Azhar.

Apprising the meeting in regards to the purpose behind the surge within the money owed, he stated that the ministry has been informed {that a} delay in recoveries within the gasoline sector are the principle purpose for the rise in debt.

“Equally, the poor monetary situation of presidency establishments is another excuse for the rise in money owed,” stated Azhar.

The minister additional acknowledged {that a} working group of petroleum firms has been shaped to resolve the matter of round debt within the petroleum sector. 

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