HUBCO receives Rs35.458 bln from WAPDA

Saturday, November 21, 2009, Zilhaj 03, 1430 A.H

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HUBCO receives Rs35.458 bln from WAPDA

Updated at: 1410 PST, Wednesday, April 01, 2009

KARACHI: The Hub Power Company (HUBCO) has received a payment of outstanding amount of Rs35.458 billion from WAPDA through circular debt settlement arranged by the federal government.

According to HUBCO communique despatched to KSE, Rs30.156billion were immediately paid to Pakistan State Oil (PSO) in accordance with settlement procedure. After this settlement, the receivables against WAPDA are estimated at Rs27.8 billion while HUBCO has to pay Rs24 billion to PSO against the supply of furnace oil.

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