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Hafeez Shaikh chairs meeting to discuss outstanding dues of IPPs, issuance of Sukuk & Swap bonds

Hafeez Shaikh chairs meeting to discuss outstanding dues of IPPs, issuance of Sukuk & Swap bonds

ISLAMABAD:Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Thursday chaired a meeting which was held to discuss the outstanding payments of Independent Power Producers (IPPs).

The meeting which was also attended by the Governor State Bank of Pakistan, Secretary Finance, Special Secretary Finance and Additional Secretary Ministry of Finance also discussed the issuance of Sukuk and Swap Bonds.

Renowned industrialist Mian Muhammad Mansha and Shahzad Saleem were also present in the meeting, said a press released issued by Ministry of Finance.

The meeting also discussed ways and means to reduce the circular debt in power sector, besides, it also discussed outstanding payments to IPPs and deliberated on different proposals and suggestion for the issuance of Sukuk and Swap Bonds.

It was decided that Ministry of Finance and Ministry of Energy would finalize proposals and suggestions regarding the payment with mutual consultations in two-weeks that would be presented before Economic Coordination Committee of the Cabinet.