In three years, the revolving credit of the petroleum sector has increased by 50%.
The Ministry of Energy has acknowledged a 50% increase in revolving credit. Energy Minister Hamad Azhar said that revolving credit was Rs 0.7 trillion in 2018, which has increased to Rs 1.1 trillion in 2021, revolving credit of petroleum sector has increased by almost 50% in 3 years, delay in supply of gas sector. Receipts from are the main reason for this.
Hamad Azhar said that the poor financial condition of government institutions was also the reason for the increase in debt. A working group comprising petroleum companies has been formed to resolve the revolving debt of the petroleum sector.
