Addressing a joint press conference, Mr Shah said the reserves had improved with the transfer of Islamic bonds worth $600 million and the disbursement of loans by donors. Omer Ayub Khan, minister of state for finance, Ashfaq H Khan, economic advisor to the Finance Ministry and Nawid Ehsan, finance secretary, also accompanied Dr Shah at the briefing.
Dr Shah said Pakistan became the first country to offer Islamic bonds in the international market at the start of this calendar year. “The size of the Sukuk bonds was the largest compared to those offered by other countries and the response was impressive,” said he said.
He said the government had leased the Lahore-Islamabad Motorway through the sale of the Sukuk bonds (asset-based) and the Pakistan Sukuk Company, set up by the government, would use income from the motorway to service lease/rental payments to bond buyers for a five-year period. After the five-year period, he said, the bonds transaction would be reversed to the government.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment