The Economic Coordination Committee (ECC) is set to allow the Water and Power Development Authority (Wapda) to float Eurobonds in the global market for raising $500 million to meet foreign financing needs for Mohmand and Diamer-Bhasha dam projects. Sources told The Express Tribune that the Ministry of Water Resources had tabled a summary before the ECC, seeking approval to allow Wapda to issue Eurobonds. Initially, Wapda plans to issue Eurobonds to generate $500 million to meet the foreign funding component under the innovative financing strategy. This is the first time Wapda is going to float bonds without seeking any government guarantee. LPG air-mix plantsThe ECC will also consider the fate of liquefied petroleum gas (LPG) air-mix plants in its next meeting.

Source: The Express Tribune December 23, 2020 03:21 UTC