ISLAMABAD: The National Power Parks Management Company Ltd (NPPMCL) has received an unprecedented response from a syndicate of local banks for project financing in excess of Rs100 billion, the Privatisation Commission (PC) announced on Monday.

The syndicate comprises conventional and Islamic banks including HBL, Meezan, NBP, Faysal, Alfalah, Bank of Punjab, Bank Islami, Pak Kuwait Investment Company and UBL.

Minister for Privatisation Mohammed Mian Soomro welcomed the prospects and expressed his gratitude to banks for showing willingness to finance the project. “We are heading on the way towards the completion of this landmark transaction within a stipulated time,” he said.

Commenting on the conclusion of the bidding, PC Chairman Saleem Ahmad said, “these indications from local banks not only underscore the depth and liquidity of capital markets in Pakistan but also reinforce the quality of the obligor risk and significance of the power sector.”

He further acknowledged the key importance of efficient capital structure in providing affordable electricity to the consumer as well as enabling sale of the entity to blue-chip investors and operators.

The transaction has been structured and executed by PC, in conjunction with the Ministry of Finance and NPPMCL, without the support of any financial adviser or intermediary saving a significant amount in advisory fees.

Published in Dawn, March 22nd, 2022

Opinion

Editorial

Sindh LG poll mess
Updated 28 Jun, 2022

Sindh LG poll mess

The ECP and the Sindh government share the blame for the electoral mismanagement witnessed on Sunday.
State apathy
28 Jun, 2022

State apathy

The minister would do well to revisit his stance before further damage is done to the fight for civil rights.
Lofty but fragile
28 Jun, 2022

Lofty but fragile

PAKISTAN is set for its busiest mountaineering season in over a decade, with over 1,400 climbers from across the...
LNG crisis
Updated 27 Jun, 2022

LNG crisis

Global LNG shortages have sent the fuel’s price spiralling to record highs.
Bloc politics
27 Jun, 2022

Bloc politics

USING the platform of the 14th BRICS Summit, Chinese President Xi Jinping has made some interesting observations...
KCR dream
27 Jun, 2022

KCR dream

RAILWAYS Minister Saad Rafique has basically clarified what many a commuter in Karachi has known for long: true and...