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Finance ministry says Rs10.1trn SOE debt is not fresh bank borrowing
The Finance Division on Thursday rejected a media report on the debt of state-owned enterprises (SOEs), saying it compared two datasets that are not on a like-for-like basis and could create the incorrect impression that SOEs had taken on Rs1.3 trillion in new loans. In a clarification issued in response to a report titled “SOEs’ debt soars to Rs10.1 trillion,” the ministry said the figure reported by the Central Monitoring Unit (CMU) of the Finance Division is the consolidated stock of interest-bearing obligations of federal SOEs, compiled for fiscal-risk monitoring. It is not a measure of fr...
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