The Cabinet’s Economic Coordination Committee (ECC) convened Monday to adopt a circular debt management plan for the fiscal year 2024–2025 that aims to lower power sector liabilities and advance financial sustainability.
Several important problems were discussed at the meeting, which was presided over by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue. The Circular Debt Management Plan was presented by the Ministry of Energy and approved by the committee.
The Ministry of Energy’s Petroleum Division also requested and received approval for a Sale Purchase Agreement (SPA) between SOCAR Azerbaijan and Pakistan State Oil (PSO) for the supply of petroleum products.
To pay outstanding debts for the 23rd Shanghai Cooperation Organization (SCO) Council of Directors, the Ministry of Information and Broadcasting (MoIB) requested a technical supplemental grant of Rs95.822 million.
