Islamabad: The Economic Coordination Committee (ECC) on Tuesday agreed to float Islamic Sukuk bonds worth PKR 200 billion – a news source reported.
The committee discussed this matter during a meeting, which was presided over by Finance Minister Asad Umar. Planning Minister Khusro Bakhtiar, Adviser on Commerce Abdul Razak Dawood, and other officials concerned were all present at the occasion.
The officials of the Energy and Power Ministry briefed the finance minister on circular debt build-up. The participants also held a detailed discussion on measures to correct the debt.
It was decided that the authorities concerned will raise Islamic Sukuk bonds worth PKR 200 billion. The minister was informed that a consortium of Islamic banks had provided a term sheet with regard to the bonds’ maturation.
Moreover, the Ministry of Information Technology & Telecommunications briefed the meeting on the annual budget of the National Telecommunication Corporation (NTC).
In response, Asad Umar directed the officials to address the concerns of NTC on a priority basis.
