Bank of Punjab will provide Rs 20bn for Punjab Thermal Power Project

• PTPL and BOP signed a contract giving BOP the right to arrange debts worth more than PKR 20 billion.
• The project will help the country deal with its energy shortage problem at a reasonable price.

On August 26, 2022, at the BOP head office, Punjab Thermal Power Limited (PTPL) and the Energy Department of the Government of Punjab (GoPb) signed a contract giving The Bank of Punjab (BOP) the right to arrange debts worth more than PKR 20 billion.

Ajmal Bhatti, who is the Secretary of Energy for the GoPb, Salman Zakaria, who is the CEO of PTPL, Ghazanfar Jillani, who is the Director and Acting Chairman of BOP, and Zafar Masud, who is the President and CEO of BOP, were all there, along with other top officials from PTPL and BOP.

The Energy Department of the Government of Pakistan is helping PTPL build a 1,263MW RLNG-fired power plant for clean energy in Pakistan. The project will cost PKR 120 billion.

It is one of the biggest and most efficient independent power producers in Pakistan. This will help the country deal with its energy shortage problem at a reasonable price.

The fact that debt arrangement mandates were given to The Bank of Punjab shows that PTPL and the Government of Punjab have faith in the investment banking skills of the bank’s new leader.

Salman Zakaria liked that BOP, which is quickly becoming one of the most active commercial banks on the market, helped PTPL get project debt at the time of financial close and has given all the help it can to this point.

Ajmal Bhatti said that public sector businesses need to work together to help the public as a whole. Zafar Masud, the President and CEO of BoP, said he was eager to work with the Government of Punjab to find ways to finance projects that are important to the whole country.

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