SSGC wins Rs4bn financing facility

The Sui Southern Gas Company (SSGC) on Wednesday signed Rs4 billion financing facility with a consortium of banks led by National Bank of Pakistan (NBP) to fund its ongoing ambitious expansion project.

The Managing Director of SSGC, Munawar Baseer Ahmad, Naveed Khan of ABN-AMRO, Badar Kazmi of Standards Chartered Bank, and Badar Mannan of Dubai Islamic Bank inked the financial deal at SSGC head office in the presence of State Bank Governor Dr Shamshad Akhtar.

NBP, ABN-AMRO, Standard Chartered Bank, Bank Al-Flah and Dubai Islamic Bank are the members of the consortium, which will provide Rs4 billion to SSGC including Rs1 billion sukuk bond for a period of five years with the same rate of return (KIBOR plus the undisclosed spread).

Kapco posts Rs3,687m profit in six months

PC asked to allot 10 percent kapco shares for Wapda workers

The Water and Power Development Authority (Wapda) has asked the Privatisation Commission (PC) to allocate 10 percent shares of Kot Addu Power Company ( kapco ) for Wapda employees through suitable amendment in the offer for sale document, sources in PC told Business Recorder. They said that Wapda Chairman Tariq Hamid has written a letter, the second in three weeks, to Privatisation Ministry Secretary, inviting his attention towards concerns of Wapda and Collective Bargaining Agent (CBA) union of employees regarding non-allocation of quota of kapco public shares to be offloaded to Wapda employees.