The Ministry of Finance has formed a committee to settle gas circular debt that has plagued the gas sector for years. According to the notification, the finance minister formed the committee that will convene under Ashfaq Tola. The committee would undertake a detailed mapping of the gas sector’s circular debt stock as of June 30, 2022. According to TORs, the body is directed to work out a circular debt settlement plan through “cash/non-cash releases/disbursements.” The ministry has given the committee a 10-day period to submit a report with its recommendations, which should be suggested after identifying legal and procedural requirements to implement the circular debt settlement plan.

Credit : Independent News Pakistan-INP