• About
  • Advertise
  • Contact
Saturday, May 28, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk

Govt to borrow Rs103.8b from banks

byMuhamad Arshad
August 12, 2021
in Business, Finance
Reading Time: 1 min read
0
banks
246
SHARES
1.6k
VIEWS
Share on FacebookShare on Twitter

The Privatisation Board on Wednesday allowed raising Rs103.8 billion debt from local banks through competitive bidding to replace the government’s financing before privatisation of much-trumpeted two LNG-fired power plants.

The board recommended that Expression of Interest (EOI) may be invited from scheduled banks and Development Financial Institutions (DFIs) through advertisement to raise Rs103.8 billion debt.

RelatedPosts

Exports of cotton yarn grew by 22.11pc

Pak-China red Chili farms achieving bumper harvest

Pakistan Railways fares likely to go up by 20%

The board approved to raise the debt for a period of seven years at a maximum interest rate of Karachi Interbank Offered Rate (KIBOR) +1.8%. The National Electric Power Regulatory Authority (Nepra) has set the KIBOR plus 1.8% limit against the wish of the Privatisation Commission that had initially recommended KIBOR plus 3.5% interest rate.

The last Pakistan Muslim League-Nawaz (PML-N) government had funded the Haveli Bahadur Shah and Balloki Power Plants out of the Pakistan Development Fund Limited (PDFL) – being set up with $1.5 billion Saudi Arabian grant.

After raising the debt that will replace the PDFL funding, the government would then move to the next step of selling the 30% equity stakes of both the power plants. The Pakistan Tehreek-e-Insaf (PTI) government wanted to privatise these plants by June 2019.

Tags: BanksEOIExpression of Interestlocal banksNEPRAPDFL fundingPrivatisation Board
Muhamad Arshad

Muhamad Arshad

Related Posts

Exports of cotton grew by 22.11pc

Exports of cotton yarn grew by 22.11pc

Cotton yarn exports from the country increased by 22.11 percent in the first ten months of this fiscal year compared...

Pak-China red Chili farms achieving bumper harvest

Pak-China red Chili farms achieving bumper harvest

In southern Punjab and northern Sindh, six model farms under the Pakistan-China Red Chili Contract Farming Project are harvesting a...

Next Post
Economy

Economy entering sustainable growth phase: SBP chief

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pakistani mountaineers summit world's fifth highest peak

Pakistani mountaineers summit world’s fifth highest peak

Govt to construct sports centers across country

Govt to construct sports centers across country

'Joyland' makes history: Film wins Jury prize at Cannes Film Festival

‘Joyland’ makes history: Film wins Jury prize at Cannes Film Festival

Exports of cotton grew by 22.11pc

Exports of cotton yarn grew by 22.11pc

Pak-China red Chili farms achieving bumper harvest

Pak-China red Chili farms achieving bumper harvest

Youm-e-Takbeer being observed today

Youm-e-Takbeer being observed today

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2020 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2020 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?