Debt Refinancing of NPPMCL to be Conducted Through Banks

Federal Minister for Privatisation, Muhammed Mian Soomro, chaired a meeting with the heads of banks at State Bank of Pakistan, Karachi, for debt refinancing of National Power Parks Management Company Limited (NPPMCL).

Federal Secretary Privatisation, senior officials of the Privatisation Ministry, along with senior representatives of State Bank of Pakistan, and representatives of the Ministry of Finance, attended the meeting. Presidents of the banks were also present.

A comprehensive representation of the issue was presented by the Ministry of Privatisation, and a thorough discussion was made on the terms and conditions of the refinancing process.

There were different suggestions from the banking side for moving towards debt refinancing. Director-General Debt of Ministry of Finance was of the view that all banks should individually submit their bids. However, the president of the National Bank of Pakistan and HBL proposed an invitation of bids from the consortium.

After discussion, it was agreed that the suggestions of the banks will be considered in the preparation of a request for proposal (RFP).

The Minister for Privatization, Muhammad Mian Soomro, said that privatisation of NPPMCL is a large transaction. Privatisation Commission will coordinate with all stakeholders to fulfill the national cause.

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