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ECC approves issuance of $500mln Eurobonds for dams


ECC approves issuance of $500mln Eurobonds for dams
Business
December 25, 2020
ISLAMABAD: Economic Coordination Committee (ECC) of the cabinet on Thursday approved issuance of $500 million Eurobonds to finance construction of Diamer Basha and Mohmand dams and Karachi transformation plan.
Ministry of water resources presented a summary for issuance of the Water and Power Development Authority’s (Wapda) debut $500 million Eurobonds to arrange finances for Diamer Basha and Mohmand dams. Diamer-Basha dam is estimated to cost Rs442 billion, while Mohamand dam has an estimated cost of Rs310 billion. Construction contracts have already been awarded to two separate consortiums of Chinese and Pakistani firms. ....

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ECC approves issuance of $500 mln Eurobonds to finance Diamer Basha, Mohmand dams


ECC approves issuance of $500 mln Eurobonds to finance Diamer Basha, Mohmand dams
  Published On
The ECC approved amendments in the Master Plan for establishing five terminals
ISLAMABAD (Dunya News) – The Economic Coordination Committee (ECC) of the Federal Cabinet Thursday approved the Ministry of Water Resources’ proposal in principle for the issuance of WAPDA’s debut $500 million Eurobonds to arrange finances for Diamer Basha and Mohmand dams.
The ECC, which met with Federal Minister for Finance and Revenue Dr Abdul Hafeez Sheikh in the chair, directed for working out modalities for the issuance of the bonds in consultation with the Finance Division and the State Bank of Pakistan (SBP), according to a Finance Ministry press release. ....

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ECC Allows WAPDA to Issue $500 Million Eurobonds


ECC Allows WAPDA to Issue $500 Million Eurobonds
Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Sheikh, chaired the meeting of the Economic Coordination Committee (ECC) today.
Ministry of Water Resources presented a summary for the issuance of Water and Power Development Authority’s (WAPDA) debut $500 million Eurobonds to arrange finances for Diamer Basha and Mohmand Dams.
The ECC approved the issuance of $500 million Eurobonds and directed the Minister of Water Resources to work out the modalities in consultation with the Finance Division and the State Bank of Pakistan (SBP).
Ministry of Planning, Development, and Special Initiatives presented a detailed presentation on Karachi Transformation Plan (KTP) before ECC. The forum discussed the plan thoroughly and endorsed, in principle, with the direction to secure approval from all relevant quarters before submission to Cabinet. The Chair directed to follow all codal formalities regarding various compone ....

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