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KARACHI, Aug 2: The Water and Power Development Authority is considering issuance of an international Islamic bond or Sukuk, worth up to $1 billion, a senior official said on Thursday.
“We have asked all leading local and international banks to submit their proposals for the planned issue by Aug 31,” said Hamad Rasool Bhullar, director finance at Wapda bonds cell.
“We are looking at a size of $500 million to $1 billion, and we plan to do it as early as possible... hopefully in the next six months or so,” Bhullar told Reuters by telephone from Lahore, where the utility is headquartered.
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