Pepco urged to speed up recovery <span class='TextClass'>[Geo TV] 09 Feb, 2010</span>

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Pepco urged to speed up recovery [Geo TV] 09 Feb, 2010

ISLAMABAD: Minister for Finance Shaukat Tarin said the target regarding recovery of the dues worth at least Rs45 billion from provincial and federal institutions should be set at the earliest.

He said this while chairing a special meeting regarding the circular debt.

The meeting reviewed the circular debt in the energy sector.

Shaukat Tarin urged the Pakistan Electric Power Company (Pepco) to speed up the recovery of its pending dues, as the delay in their receipts are posing problems for the company.

The meeting was told in the briefing that circular debt worth Rs118 billion by the middle of January is present in the country.

He said the financial benefit accrued from the decision regarding 12 percent increase in power tariffs from January 1st, would be visible in the next two weeks.

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