Government plans to transfer Nandipur assets to PSO.

The Government has planned to place assets of Nandipur power plant (NPP) in a separate entity in order to hand over its controlling interest to Pakistan State Oil (PSO) for paying some of its outstanding dues. This will help the cash-starved PSO, the country's largest oil marketing company, to reduce its huge circular debt receivables. Finance Division, in an office memorandum, said that it had considered the proposal in a draft summary and the proposed transaction was meant to settle PSO's claims of receivables against NPP and Guddu Power Plant (GPP). However, it stated that the summary proposed the transfer of Gujranwala Electric Power...