OGDCL facing severe liquidity crunch

ISLAMABAD: The monster of circular debt has been negatively impacting whole energy sector as Managing Director of OGDCL on Monday revealed that this public sector entity was facing severe liquidity crunch in the wake of stuck up debt to the tune of Rs250 billion against the power sector.
“Our stuck up debt in power sector has gone up to Rs250 billion as outstanding liabilities against two major gas utilities stand at Rs95 billion and Rs50 billion against Sui Southern Gas Company and Sui Northern Gas Company respectively as well as over Rs100 billion against Power Holding Company,” MD OGDCL Zahid Mir said while addressing Pak Oil and Gas Igniting Growth arranged by Byco and Jang Group here on Monday…read more

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