ISLAMABAD: The Ministry of Finance has strongly rebutted a report carried by a section of the media, titled ‘Senate panel threatens foreign banks with stern action’.
The spokesman of the ministry in a statement said that the entire process of appointment of joint lead managers and sale of Euro bonds in 2015 was conducted in a transparent and competitive manner. He said the Senate Standing Committee on Finance Revenue and Economic Affairs had discussed this matter earlier as well and had desired to also listen to the joint lead managers.
He said impression that Ministry of Finance had withheld any facts was completely wrong and to say that three banks refused to appear before the committee was also incorrect and misleading. Some reports in the media had earlier suggested that the Senate Standing Committee on Finance and Revenue issued a stern warning to three European banks in an ongoing investigation into a two-year-old global sovereign bond issue, after the banks declined to cooperate in the probe.
Published in Daily Times, November 12th 2017.
