ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has allowed the power sector institutions to adjust their receivables against their payables, a senior government official said.

ECC has today approved the financial setoff mechanism for government owned IPPs. This means that the receivables and payables between government entities have been balanced against each other. This will lead to a reduction of Rs 116 BN in the circular debt stock.

— Hammad Azhar (@Hammad_Azhar) July 16, 2021

الحمداللہ آج اقتصادی رابطہ کمیٹی نے واپڈا، پاکستان اٹامک انرجی کمیشن، نیلم جہلم اور NTDC کی وصولیاں ان اداروں کے واجب الدا قرضوں کے ساتھ adjust کرنے کی منظوری دی۔ اس فیصلے سے گردشی قرضے میں مزید 116 ارب کی کمی ہو گی۔

— Hammad Azhar (@Hammad_Azhar) July 16, 2021

In a tweet, Federal Minister for Energy Hammad Azhar said that by doing this the circular debt will be reduced by Rs116 billion. The committee has allowed receivables of the Water and Power Development Authority (Wapda), Pakistan Atomic Energy Commission (PAEC), Neelum-Jhelum hydel project and the National Transmission and Dispatch Company (NTDC) to be adjusted against their payables.

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