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 Mohammedmian 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

Shared goals
Updated 16 Aug, 2022

Shared goals

It is high time that all parties realise that negotiation on the economy does not need to be held hostage to political rivalries.
Making amends?
16 Aug, 2022

Making amends?

WHERE relations with the US are concerned, there has been a distinct shift in Imran Khan’s tone. While the PTI...
Hazardous celebration
16 Aug, 2022

Hazardous celebration

CAN celebratory actions that often result in death or lifelong injuries really be described as such? Be it Eid, New...
Taliban anniversary
15 Aug, 2022

Taliban anniversary

A YEAR ago on this day, the Afghan Taliban rolled into Kabul as the Western-backed government fell like a house of...
Extreme measures
Updated 15 Aug, 2022

Extreme measures

Government has overreacted to a degree that has given ammunition to the PTI to accuse it of ‘fascism’.
A depraved society
15 Aug, 2022

A depraved society

IF the extent of sexual violence against women and children is any measure of a society’s moral degradation, then ...