Finance Ministry to Release Rs. 130 Billion For Power Generation Companies This Week

The Ministry of Finance has decided to release Rs. 130 billion to government power plants this week. The allocated funds include Rs. 83 billion for WAPDA, Rs. 26 billion for Genco II, and approximately Rs. 3 billion for Genco III. The move is part of a larger plan to release a total of Rs. 260 billion to the power generation companies by the end of the current financial year, with Rs. 130 billion in the pipeline to be disbursed in the next quarter, well-informed sources told ProPakistani. The Finance Ministry has suggested that the Energy Ministry come up with a financial strategy to promptly pay outstanding amounts to power plants so that they can repay their loans. Such a strategy would involve government power plants settling their financial obligations with gas companies. The ministry further suggested that the gas companies deposit dividends directly into the state treasury. However, the Ministry of Energy officials have rejected the Finance Ministry’s suggestion.