Finance Minister Wants an Action Plan to Resolve Circular Debt in Gas Sector

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired a meeting on reforms in Energy Sector at Finance Division today.

Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Minister of State for Petroleum Mr. Musadik Masood Malik, SAPM on Finance Mr. Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Mr. Ashfaq Yousuf Tola Chairman RRMC, Chairman SECP, Controller General of Pakistan, Accountant General of Pakistan and senior officers from Finance and Petroleum Divisions attended the meeting.

Mr. Ashfaq Yousuf Tola, Convenor of the Committee for the settlement of the circular debt in the gas sector apprised the chair of the quantum of the circular debt in the gas sector and modalities and framework to introduce reforms in the energy sector to offset the burden of circular debt in the gas sector. The meeting discussed viable proposals focused on bringing sustainability to the energy sector to achieve economic growth in the country.

Finance Minister Senator Ishaq Dar emphasized the priority of the government to address the issues of the energy sector including circular debt to bring financial sustainability to the sector and economic growth to the country. The Finance Minister further directed the Committee to finalize their report and action plan for early settlement of circular debt in the gas sector.