Nine public corporations owe Rs 286 billion in liabilities

ISLAMABAD (December 23 2002) : Total outstanding debt and liabilities are Rs 286.04 billion of nine government sector corporations and companies at the end of September, 2002.

These include Wapda's Rs 172.15 billion, KESC's Rs 14.8 billion, Pakistan Railways' Rs 29.98 billion, PTCL's Rs 22.24 billion, PIA's Rs 9.83 billion and PSM's Rs 17.65 billion by September, 2002. Beside, OGDCL owed Rs 3.86 billion, SNGPL Rs 7.05 billion, and SSGCL Rs 8.48 billion by June 2002.

Wapda's debt to the government is Rs 133.125 billion as on June 30, 2002, while Banking sector has 22.158 billion debt, and others owe Rs 21.945 billion, totalling Rs 177.229 billion. On September 2002 it was Rs 172.152 billion.

There were Rs 5 billion reduced to banking sector during June and September, 2002.

KESC's outstanding loans were Rs 14.8 billion on September 2002 against Rs 16.9 billion on June 2002.

Redeemable TFCs are of Rs 7.07 billion and were Rs 8.02 billion on June 2002. Long-term payments were Rs 6.953 billion as on September 2002 and the same were at June 2002.

Debt liabilities of Pakistan Railways are Rs 29.98 billion, including Rs 18.743 billion of outstanding debt to SBP and Rs 10.231 billion foreign loans, while over Rs 1 billion were to be made in repayments as on September, 2002.

PTCL's long-term loans and deferred liabilities were of Rs 22.245 billion as on June 2002 and would likely to be reduced to Rs 21.775 billion in 2003.

It entails a very high amount of retirement benefits of Rs 14.149 billion in June 2002 and Rs 15.226 billion on June 2003.

In current liabilities major payments include long-term loans and other liabilities of Rs 5.235 billion on June 2002 and creditors, accrued and other liabilities are of Rs 7.793 billion.

PIA's total loans total Rs 9.832 billion as on September 2002, including Rs 3.13 billion of Habib Bank, Rs 1.63 billion of National Bank, Citi-UBL Syndicate's Rs 1.045 billion and Rs 4.73 billion of National Bank – lead syndicate (bridge finance).

Pakistan Steel has to pay Rs 17.658 billion debt having borrowed Rs 2.364 billion each from Habib, United and National banks and Rs 1.419 billion from Muslim Commercial Bank.

A sub-ordinated loan includes Rs 1.941 billion from Habib Bank, UBL, NBP and Rs 1.165 billion of MCB. A sum of Rs 1.961 billion was also payable on September 2002 by Pakistan Steel.

OGDCL's credits accrued and other liabilities are of Rs 3.866 billion and deferred liabilities are of Rs 9.587 billion on June 2002.

SNGPL has to pay a long-term debt of Rs 7.051 billion, foreign loans Rs 3.415 billion, local Rs 1.896 billion and others Rs 1.74 billion on June, 2002.

SSGCL's credit liabilities were of Rs 8.48 billion on June 2002.

It includes long-term loans of Rs 2.5 billion and deferred liabilities of Rs 3.17 billion.

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