KARACHI, Dec 7: The Sindh government has retired the debts arranged for by the State Bank from open market.
According to an announcement issued from the CM House here on Sunday, these loans were availed at the interest rates higher than the prevalent market rates.
The loans that have been retired were Sindh Loan 1999, 2001, 2002 and 2003.
Chief Minister Ali Mohammad Mahar has also ordered payment of mark-up amounting to Rs152.078 million on Sindh Loan 2006 and Sindh Loan 2007. The due date for the payment is Sept 15, 2006 and Aug 27, 2007.
The announcement said that the provincial government had achieved a milestone by making payments much ahead of the deadline which would enable it to avail over draft (OD) facility of the State Bank. — APP
