ECC approves $500m Eurobonds to finance DiamerBhasha Mohmand dams

The Economic Coordination Committee (ECC) of the Cabinet on 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.

In this regard, the ECC, 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).

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Minister for Privatisation Mohammad Mian Soomro, Minister for Energy Omar Ayub, Minister for Industries and Production Hammad Azhar, Adviser to the PM on Commerce Abdul Razak Dawood, Minister for Railways Azam Khan Swati, Special Assistant to the PM (SAPM) on Petroleum Nadeem Babar, SAPM on Power Tabish Gauhar, Minister for Maritime Affairs Ali Haider Zaidi, Minister for Water Resources Faisal Vawda and SBP Governor Reza Baqir participated in the meeting.

The ECC also approved amendments in the master plan for establishing five terminals, including two LNG terminals, two multipurpose cargo terminals and one integrated container terminal on build–operate–transfer (BOT) basis

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