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The Bank of Punjab to Arrange Over Rs 20 billion for Punjab Thermal Power Project

Lahore, August 29, 2022 (PPI-OT):A signing ceremony for the award of debt arrangement mandates exceeding PKR 20bn to The Bank of Punjab (BOP) by Punjab Thermal Power Limited (PTPL) and Energy Department, Government of Punjab (GoPb), was held on 26th August, 2022 at BOP head office.

The ceremony was attended by Ajmal Bhatti (Secretary Energy, GoPb), Salman Zakaria (CEO, PTPL), Ghazanfar Jillani (Director and Acting Chairman, BOP), and Zafar Masud (President and 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 PKR 120 billion.

It is one of the largest and most efficient independent power producers in Pakistan, which shall help in addressing the energy deficit problem of the country at an affordable cost. The award of debt arrangement mandates is a testament to PTPL and Govt. of Punjab’s trust in 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 to date. Ajmal Bhatti stressed the need for public sector enterprises to work together for the betterment of the public at large. BoP’s President and CEO, Zafar Masud, expressed his keen desire to work with the Govt. of Punjab in arranging to finance projects of national importance.

For more information, contact:
The Bank of Punjab
10-B, Block E-II,
Main Boulevard Gulberg III, Lahore
UAN: +92-42-111-200-100
Tel: +92-42-35783700-10
Fax: +92-42-35783713
Email: feedback@bop.com.pk
Website: www.bop.com.pk

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