The State Bank of Pakistan has asked the development financial institutions (DFIs) to submit their plans for 'Infrastructure Bonds' in concrete shape in the next two days. Chairing a meeting of DFIs here on Tuesday at SBP head office, SBP deputy governor Kamran Shahzad directed DFIs to separately design feasibility for the issuance of 'Infrastructure Bonds' to generate massive funds for the rehabilitation of flood-hit areas and submit by Thursday to finalise the proposal.
He said that with the help of all plans a consolidated feasibility of long-term bonds would be finalised and presented to the President of Pakistan for approval. Infrastructure Bond idea was floated by DFIs during the meeting with president of Pakistan Asif Ali Zardari on Monday. On Tuesday, some seven DFIs including Pak-Brunei Investment Company, Pak-China Investment Company, Pak-Libya Holding Company, Pakistan Kuwait Investment Company, Pak-Oman Investment Company and Saudi Pak Industrial and Agricultural Investment Company attended the meeting.