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The finance ministry has refuted media reports that Rs10 billion were being diverted to help make interest payments to the power sector.
The ministry elaborated that the funds for interest payment will not come from the Prime Minister’s Covid Relief Fund but from the fiscal stimulus package totalling Rs1.2 trillion that was announced by the government in the month of March.
“The ECC decision was to allocate Rs10bn towards the interest payment of Rs200bn PES II issued on May 20, 2020, from the fiscal stimulus package of Rs1.2tr,” the statement by the ministry read.
“The government had earmarked Rs100bn for relief on power and gas for the citizens of Pakistan in the fiscal stimulus package”, it added.
