The Detroit News has been told by sources that General Motors Co. is poised to announce it will repay the U. S. government $5.8 billion two months early.

The Detroit Free Press also reported that GM spokesman Greg Martin declined to comment on the payment.

The News also reported that company Chairman and Chief Executive Officer Edward Whitacre Jr. plans to announce the payment in Fairfax, Kan., where renewed investment in the plant and additional jobs for Kansas will also be announced.

The plan is to use an escrow account set up by the U. S. Treasury to pay the U. S. government $4.7 billion and the Canadian and Ontario governments $1.1 billion.

It was also noted by The News that the U. S. government will remain owners of 61 percent of GM and Canada will keep control of 12 percent, as much of the aid provided to GM last year was converted to equity.

The payment was "an important step on the road to an Initial Public Offering," Industry analyst Aaron Bragman said.

He said that from a public relations point of view, the issue is moot.

By now, "People have pretty much made up their minds whether the bailout was a good thing or a bad thing," he added. (With Inputs from Agencies)