‘ADB debt pre-payments issue resolved’

ISLAMABAD: Federal Finance Minister Shaukat Aziz on Monday said all issues regarding the pre-payment of expensive debts to the Asian Development Bank (ADB) had been resolved and pre-payments would start in a couple of weeks.

“We are on track and the money has been set aside and there are no issues remaining as far as the pre-payment of loans to the ADB is concerned,” Mr Aziz said while talking to journalists here. When asked about the concerns raised by the ADB regarding the Ghazi Barotha Hydro Power Project and Power Sector Restructuring Programme, he said arrangements had been made for these two projects and the ADB had been informed. Regarding the launching of the Euro Bond, he said arrangements were being made to hold road shows in February, while the bond would be launched in February too.

When asked about the pricing of the bond, Mr Aziz said the liquidity and demand in the market would determine that. “We are expecting good terms since there is enough liquidity available in the market,” he added. —Staff Report

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