OGDCL stopped to introduce bond in international market

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OGDCL stopped to introduce bond in international market

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Finance Ministry has stopped privitisation commission to introduce OGDCLs convertible bonds worth of Rs. 1 billion into international market.

10 February,2011 06:21 am

According to Finance Ministry, the privatisation commission had decided in the previous financial year to introduce OGDCL’s convertible bonds worth of Rs. 1 billion into international market. However the Finance Ministry has stopped privitisation commission to take this step. According to the sources, privitisation commission is not authorised to issue bonds on its own and Finance Ministry will issue these convertible bills of OGDCL in international market at the right point of time. Where as the OGDCL officials claim that authority to issue these bonds is under government’s control.