The General Motors so far has taken 50 billion dollars of Government aid in various forms over the last two years. As per the bankruptcy settlement pact, it is expected to start repaying the loans to the government only five years down the line.
But the GM management is confident of starting the repayment right from next month, and it has already generated over 3 billion dollars of cash in the last three months. The company is expecting to make decent profits in the coming quarters and is planning to repay at least one billion dollar per quarter to the government in the next five to six quarters.
GM to start repaying govt loans