Govt seeks proposals to raise Rs 200 bln via Sukuk to pay off Power Sector debt

MG News | February 10, 2020 at 04:21 PM GMT+05:00

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February 10, 2020 (MLN): The government is planning to raise Rs 200 billion through the selling of Sukuk to ease off the burden of the power sector’s astounding circular debt, reported Bloomberg .

In this regard, the government has allowed Power Holdings to raise funds to help pay off power sector debt and seeks proposals latest by February 14, said Fraz Qadri, CFO at state-owned Power Holding to Bloomberg.

Moreover, it is pertinent to mention that the government had raised a similar amount in last fiscal year to June to repay power sector debt.

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