Outstanding power subsidy dues cleared

ISLAMABAD: Federal Secretary Finance, Waqar Masood Wednesday said that the last payment worth Rs10 billion, under the head of subsidy on power, has been cleared, closing this account for now, Geo News reported.

He was talking to the Senate Standing Committee for Finance, which met here under the chair of Ahmed Ali.

Massod also hinted at Pakistan’s tentative engagement in a new International Monetary Fund (IMF) loan programme for Fund’s representatives are due in Pakistan next month.

Pakistan could borrow more from IMF if it comes to it, he said.

Masood also pointed up that America has been sitting on Pakistan’s share of Coalition Support Fund worth $2.5 billion since 2010.

On the other hand America, World Bank, and Asian Development Bank have given word of approval to bankroll Bhasha Dam, he said.

He added that with world markets down in the dumps, it is unlikely that government would launch exchange bonds.