ISLAMABAD (Dec 12) – Oil and Gas Development Company (OGDC) has received Rs41.8bn from Uch Power as part of the power sector circular debt settlement. As per our channel checks, OGDC’s receivables from Uch have been improving over the past few quarters, which reduced the overall receivables from earlier higher levels. Channel checks also indicate that the remaining outstanding amount has now been almost fully recovered. Additionally, for further clarification, the company will continue to receive 12 monthly instalments of Rs7.7bn (5 already paid) as interest payment on TFCs as this was part of the previous circular debt resolution. ENDs
