Jinnah International Airport twice used for issuance of domestic Suskuk bonds: Senate told

  • Posted at: 08 Nov, 2017, in Business

ISLAMABAD: Minister for Law and Justice Zahid Hamid on Thursday apprised the Senate that Jinnah International Airport has twice been used for issuance of domestic Sukuk bonds and raised Rs 314.3 billion through it for budgetary support.Responding to various questions during Question Hour on behalf of Minister for Finance, he said the Jinnah International Airport was used for first time in 2010-11 for issuance of four-tranche domestic Sukuk bonds. A total of Rs 182.3 billion was raised for three years term and the certificates were redeemed after three years, he added.The minister said the asset was again utilized to issue three-tranche domestic Sukuk bonds worth Rs.314.3 billion. Since the maturity period of each of these issuances was three year, therefore, at present, the entire amount was outstanding, he said. He assured that there was no chance of default and it would be repaid within due time.To another question, Zahid Hamid said in light of the recommendations of Financial Task Force (FATF), amendments have been made in the Anti-Money Laundering (AML) Act, 2010 in December 2015 and Anti-Terrorism Act, 1997 in 2013 and 2014.These amendments were related to money laundering, terrorist financing and freezing of terrorist assets, he added.He said that these laws have been brought into conformity with the international best practices and standards.To another query, the minister said fresh survey for Benazir Income Support Programme (BISP) has been planned in order to update the National Socio Economic Registry which was earlier created through a survey in 2010-11. A pilot survey in 13 selected districts was launched in November 2016 and now was concluding, he added.He said the survey of the remaining districts would tentatively be launched within this calendar year.To a supplementary question, the minister said some 273,263 people were getting benefits from BISP in Balochistan. – APP


Law Minister Zahid Hamid,