SNGPL given Rs 54 bln debt swap: Hammad

Hammad regrets over regime change attempts under int’l conspiracy
Hammad regrets over regime change attempts under int’l conspiracy

ISLAMABAD, Dec 31 (APP):Minister for Energy Hammad Azhar Friday said the Economic Coordination Committee (ECC) had approved the Petroleum Division’s proposal of debt swapping against a loan of Rs 54 billion secured by Sui Northern Gas Pipelines Limited (SNGPL) in 2016 for construction of a dedicated pipeline.

“Due to this debt swapping arrangement, savings of Rs. 804 million (approx) will be achieved over remaining tenor,” he said in a tweet.