Power sector liabilities: fresh sovereign guarantees approved by ECC
The Economic Co-ordination Committee (ECC) of the Cabinet has approved issuance of Rs 110 billion fresh sovereign guarantees to clear the power sector liabilities and extended Rs 82 billion Syndicated Term Finance Facilities. On four different proposals of Ministry of Water and Power, the ECC meeting presided over by Finance Minister Ishaq Dar approved issuance of new sovereign guarantees of Syndicated Term Finance Facilities for Power Holding (Private) Limited in order to clear existing liabilities. The Ministry of Finance will provide government guarantee for the repayment of loan as well as interest for the fresh facilities.
Published in Business Recorder, 27th July, 2017