April 18, 2021

Pakistan to rein in $14bln govt owes to energy firms

ISLAMABAD: Pakistan is finalizing a plan to address about 2.2 trillion rupees of debt the government owes to the energy sector, a liability that’s doubled in the past two years as power purchases outstripped demand, Bloomberg reported.Islamabad aims to pay 400 billion rupees in late fees to several electricity producers by June in a deal to cut power costs, and will ask banks to restructure the remaining debt, according to Tabish Gauhar, special assistant to Prime Minister Imran Khan for...