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LAHORE: A signing ceremony for the award of debt arrangement mandates exceeding Rs 20 billion to The Bank of Punjab (BOP) by Punjab Thermal Power Limited (PTPL) and Energy Department, Government of the Punjab (GoPb), was held on August 26 at BOP Head office.

The ceremony was attended by Ajmal Bhatti (Secretary Energy, GoPb), Salman Zakaria (CEO, PTPL), Ghazanfar Jillani (Director& Acting, BOP) and Zafar Masud (President & CEO, BOP) along with other senior officials of PTPL and BOP.

PTPL, sponsored by Energy Department, GoPb, is developing a 1,263MW RLNG-fired power plant to provide clean energy in Pakistan with a project outlay of Rs 120 billion. It is one of the largest and most efficient independent power producers in Pakistan, which shall help in addressing energy deficit problem of the country at an affordable cost.

The award of debt arrangement mandates is a testament of PTPL and Government of Punjab’s trust on the investment banking capabilities of The Bank of Punjab under its new leadership. Salman Zakaria appreciated the role of BOP, which is fast emerging as one of the most active commercial banks in the market, for supporting PTPL in arranging project debt at the time of financial close and extending all possible support till date.

Ajmal Bhatti stressed upon the need for public sector enterprises to work together for betterment of public at large. BOP’s President and CEO, Zafar Masud, expressed his keen desire to work with Govt. of the Punjab in arranging financing for projects of national importance.

Copyright Business Recorder, 2022

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